“Today is a historic day. “Greece returns to European normalcy and ceases to be an exception in the eurozone,” said Finance Minister Christos Staikouras
The “green light” for the exit of Greece from the regime of enhanced supervision was officially lit the Eurogroupconfirming the forecasts and estimates for the improvement of the country’s economic indicators and the return to normalcy.
“Greece returns to European normalcy and ceases to be an exception in the eurozone” said the Minister of Finance Christos Staikouras.
The following is the full statement of Mr. Staikouras:
“Today is a historic day for Greece. A great national goal is being achieved. Greece is set to leave the Enhanced Surveillance regime this summer.
It closes, thus, together with the early repayment of loans from the International Monetary Fund and the lifting of capital restrictions, a difficult chapter for Greece.
A chapter that opened in 2010. Greece returns. Greece returns to European normalcy and ceases to be an exception in the Eurozone.
Today’s decision of the Eurogroup recognizes the great sacrifices of Greek society, but also the reform agenda in the field of economy of the current Government.
Despite the great, multiple, external crises, the significant uncertainties and the new challenges, worldwide, we, the citizens and the state, have proved that we can do it. Greece is developing, upgrading, strengthening! We look forward with dynamism and confidence! “
See the official announcement of the Eurogroup:
The … pre-announcement by Gentiloni
“The European Commission will propose today the end of enhanced surveillance of the Greek economy,” said Economy Commissioner Paolo Gentiloni, speaking at a Eurogroup meeting in Luxembourg.
“This is an important step for Greece,” Gentiloni stressed. “If our proposal is approved, as I think it will be, it will be an important step in the right direction,” he said.
The Eurogroup will also look at macroeconomic developments in the Eurozone.
“Our economy is sailing in turbulent waters,” Gentiloni said, adding that this did not mean that the economic downturn could not be avoided, but that fiscal policies should focus on reforms, investment and a “prudent policy”. , especially for countries with high levels of public debt.
Asked if he was worried about the yields on several government bonds, Paolo Gentiloni said he was “under surveillance”. He expressed the belief that the initiative taken by the European Central Bank in order to prevent the fragmentation of the bond market, is reassuring for the markets. Eurozone finance ministers will be briefed today on the ECB’s decisions by its president, Christine Lagarde.
Finally, Paolo Gentiloni said about the conditions in the bond market, that monetary policy alone can not deal with this situation. “We also need a strong show of unity, ambition from governments and the coordination of our fiscal policy. We will discuss this today “, he added.
