EU to extend its surveillance of Greece

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The EU Commission has announced it will continue monitoring the Greek economy for an additional six months.

Specifically, the Commission adopted a decision to extend the enhanced surveillance framework for Greece by six months, as provided for under Regulation (EU) No 472/2013 (part of the so-called "two-pack").

This extension is part of the normal and expected process that serves to ensure continued support for the completion, delivery and implementation of reforms agreed under Greece's stability support programme, in line with the commitments made by the Greek authorities.

The implementation of these reforms is crucial to further strengthening Greece's economic recovery following the successful conclusion of the European Stability Mechanism (ESM) stability support programme in August 2018.

At the end of the programme, Greece started its normalisation process by becoming subject to the enhanced surveillance framework for an initial six-month period. The first enhanced surveillance report was published in November 2018. The second report will be published on 27 February 2018.

GCT Team

This article was researched and written by a GCT team member.