Press report: Text for ‘enhanced supervision’ of Greece by creditors set for Eurogroup approval

20 June 2018
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Further commitments, specific timetables and even penalties, if agreed to provisions are not fulfilled, are reportedly included in a plan for Greece’s “enhanced supervision” by creditors in the post-bailout period, with the emphasis on reforms to be implemented until 2022.

According to a report in the Wednesday edition of the Athens daily “Kathimerini”, the draft text will be submitted to Eurozone member-states’ finance ministers at Thursday’s Eurogroup meeting for their approval.

The daily also refers to quarterly reviews in order for European creditors, and the IMF, to confirm whether stipulated reforms are being implemented by the Greek side, as well as the country’s economic performance.

According to reports, the same process – if successful – will be linked with debt relief.

The actions that the Greek government will commit to continuing deal with fiscal and structural reforms, including social welfare cuts, credit system stability, labor sector liberalization, privatizations and public administration efficiency.

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