On Monday, Eurogroup approved the release of 767 million euros in financial aid to Greece. Eurozone finance ministers in Brussels have been briefed about the EU Commission’s most recent Greece surveillance report, according to the news from GTP.
The consensus is that Greece has made substantial progress despite the negative impacts of the COVID-19 pandemic. Eurogroup President Paschal Donohoe was quoted saying this:
“We started with Greece, taking stock of progress on the basis of the 12th enhanced surveillance report. We welcomed the progress achieved in policy reform despite the difficult circumstances of the pandemic and the terrible fires of August 2021. We gave our political agreement to the release of the sixth tranche of policy-contingent debt measures, which are worth 767 million euros’”
Greece has also offered to buy back or exchange outstanding government bonds set to expire between 2023 and 2042. EU officials applauded Greece’s willingness for early repayment, which experts say will further improve the stability of Greece’s indebtedness. A statement issued by the commission further reflects the EU’s assessment of Greece’s Recovery and Resilience Plan.
“Good progress has been achieved in the simplification of investment licensing, privatization and governance of state-owned enterprises, social welfare and public administration.”
Meanwhile, Germany’s Finance Minister Christian Lindner also praised Greece’s efforts calling Prime Minister Mitsotakis’ administration’s reform policy book, “impressive.”