European Commission publishes enhanced surveillance report for Greece

(Source: European Commission)

The European Commission has today published the thirteenth enhanced surveillance report for Greece. The report is prepared in the context of the enhanced surveillance framework which serves to ensure continued support for the delivery of Greece’s reform commitments following the successful completion of the financial assistance programme in 2018.

The report concludes that Greece has taken the necessary actions to achieve its specific commitments, despite the challenging circumstances that continue to be posed by the pandemic. The authorities delivered on specific commitments across various areas, notably as regards enhancing the efficiency of public administration, completing the administrative reorganisation of the Single Pension Fund and the simplification of investment licensing in the agreed sectors.

The European institutions welcome the authorities’ close and constructive engagement in all areas and encourage the authorities to keep up the momentum and, where necessary, reinforce the efforts to remedy the delays partly caused by the pandemic.

Background

Enhanced surveillance provides a comprehensive framework for monitoring economic developments and the pursuit of policies needed to ensure a sustainable economic recovery. It allows for a regular assessment of recent economic and financial developments in Greece, as well as for monitoring sovereign financing conditions and updates of the debt sustainability analysis. Enhanced surveillance also provides the framework for assessing the general commitment given by Greece to the Eurogroup of 22 June 2018, to continue and complete reforms adopted under the European Stability Mechanism programme and to ensure that the objectives of the important reforms adopted under the financial assistance programmes are safeguarded.

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