Creditors to monitor Greece post-bailout

Posted by Christian J. Hadjipateras 14/05/2018 0 Comment(s) Economia Blog,

Greece’s creditors will closely monitor the country when the bailout program ends, according to the Kathimerini. The program is due to end in August.

 

The country will be placed under ‘enhanced supervision’ that will be linked to debt relief measures after its bailout ends, according to European Union sources. Under the plan, any divergence, fiscal or other, will entail losses for Greece with regard to debt relief measures.

 

Eurogroup president Mario Centeno told Eurozone finance ministers the supervisory tool will entail up to four visits annually by representatives of the creditors to Athens, where a team from the European Commission will be permanently based.

Accordingly, Greece will not be allowed to reverse the reforms it has already approved, while it will still have to push through the prior actions that are not implemented before the bailout program ends in the summer.

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