“The achievement of yet another major national goal is a fact”, says Finance Minister Christos Staikouras referring to Greece’s exit from the Enhanced Supervision regime.
A few days ago, in a letter to the Greek Minister of Finance, the Executive Vice-President of the European Commission Mr. Valdis Dombrovskis and the Commissioner for Economy Mr. Paolo Gentiloni confirmed the exit of Greece from the Enhanced Supervision regime on August 20, pointing out that the country has delivered the bulk of its policy commitments to the Eurogroup, that it has effectively implemented reforms – despite the headwinds of the health and, more recently, geopolitical crises – and that, in doing so, it has significantly strengthened the resilience of its economy.
“With this development, together with the early repayment of loans from the International Monetary Fund and the lifting of capital controls, a difficult chapter for our country closes – after 12 years. Greece is returning to European normality and ceases to be an exception in the Eurozone”, notes the Minister of Finance in his announcement.
As he explains, this achievement is the fruit and recognition of the great sacrifices of the Greek society, of the Government’s economic policy and more broadly of its reform work.
“The country’s exit from Enhanced Supervision has multiple benefits:
– It strengthens the position of Greece in the international markets.
– It provides an additional boost to its growth potential and investment attraction.
– It grants degrees of freedom in the exercise of economic policy, within the framework of course of the existing rules that apply to all European member states.
– It brings Greece closer to the achievement of the last goal set, that of recovering the investment grade.
Until today, despite unprecedented, multi-level crises and new pan-European and international challenges, we have proved, citizens and state, that we can succeed. We set goals and with planning, unity, determination, confidence in our abilities and hard work, we conquer them! We are making our country stronger in all aspects”, the announcement concludes.
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