Greece ends Monday is officially the last assistance programme from the eurozone and the International Monetary Fund (IMF). The country will fully provide for its funding, after years of deep crisis and three tools.
At the beginning of this month still got Athens the last tranche of 15 billion euros has been granted, but officially runs the support programme Monday, at the end. In eight years, got Greece 273,3 billion paid, which 241,6 billion euros of the countries of the euro area. In return served Athens drastic cuts and reforms. Only the last three years, there was talk of 450 measures, often in order to the public finances to rights, the state and the tax authorities to modernise or to the pensions reform. Many of these, often painful, procedures provoked massive protest from the people.
All Greece shall fully provide for its financing, euro area countries continue to make an eye in the sail. And that’s still many decades. Last month, it was already the mechanism is activated to ensure that Greece after the end of its international bailout programme, the reins don’t let celebrate.
“Enhanced supervision should Greece help to win the confidence of markets, investors, companies and entrepreneurs,” said European commissioner Valdis Dombrovskis, then.
Colossal public debt
The strengthening of the surveillance means that the European Commission, in cooperation with the European Central Bank, each quarter, mission, read, and search for and risks to fiscal slippage.
“The enhanced monitoring is not a fourth program,” underlined commissioner for Economy and Finance Pierre Moscovici last month. ‘It makes no new commitments or conditions.’
The mechanism is, however, a fourth program, the question of the eurogroup, who wants to make sure that the Greeks on its own legs, and no new financial aid more necessary. The financial markets should be the reassuring message that the Greek exit from the bailout programme is credible and the public debt stable. To the still huge national debt of about 180 percent sustainable to keep, earlier the deadlines for the installment of loans from the second bailout programme with ten years moved.