Greece to get post-bailout help

Photo: EPA Pierre Moscovici (R) and Valdis Dombrovskis (L)

The Commission adopted on Wednesday a decision to activate the enhanced surveillance framework for Greece following the successful conclusion on 20 August of the ESM support programme, the EU press service reported.

The decision facilitates Greece's normalisation, building on the progress that has been made. It will support the completion, delivery and continued implementation of reforms agreed under the programme, in line with the commitments made by the Greek authorities.

“Greece is now able to stand on its own two feet; that does not mean that it must stand alone. Europe will remain engaged and committed to supporting the country, and so will the European Commission. Enhanced surveillance is not a fourth programme. It is a framework to support the completion and delivery of ongoing reforms,” Economic Commissioner Pierre Moscovici said.

“The 20th of August will mark a new beginning for Greece. It is important for the country to continue with prudent fiscal and macroeconomic policies, as well as to complete the agreed reforms,” VP Valdis Dombrovskis added

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