Staikoura-Dobrovskis meeting – Enhanced supervision of Greece ends
The chapter of enhanced supervision for Greece is closing after about four years (since 2018 when the country withdrew from the memoranda), as announced today by the Vice President of the Commission Valdis Dobrovskis in a joint press conference with the Minister of Finance Christos Staikouras.
A precondition is the smooth completion of the 14th evaluation, which, as he estimated, is on the right track.
The decision will be formally taken next June, while regarding the disbursement of the 750 million euro installment which is pending from 2019, it must be paid by the end of the year.
Asked whether Greece should achieve a primary surplus of 2.2% of GDP by 2023, the Vice President of the Commission said that this is a discussion in progress in which the new landscape should be taken into account, but added that it remains important Greece to present a credible strategy to reduce deficits and debt.
Regarding the possible extension of the general escape clause in 2023, Mr. Dobrovskis reiterated that the current decisions provide for its maintenance only for 2022, but the situation will be reassessed after the publication of the new forecasts of the Commission on 16 May.
On the part of the Minister of Finance, Christos Staikouras, he noted, among other things, that “Greece today received the first resources – after the high advance – from the Recovery and Resilience Fund, with the disbursement of the installment of 3.6 billion euros.
Resources that can not be a “mound” in its crisis, but also to feed the development mechanism of the country.
Resources focused on strategic areas, such as operations and the digital transition, will mobilize significant private investment, and support small and medium-sized enterprises.
After a long and painful period of adjustment, despite the ever-changing international environment, the Greek economy not only proved resilient to strong shocks, but also showed a remarkable growth dynamic.
It has endured, adapted, upgraded, improved and strengthened, in the vortex of an unprecedented global health crisis.
It thus laid a solid foundation for strong, sustainable and sustainable development.
But the new, acute international crisis affecting Europe is overshadowing the positive results and undermining the positive prospects.
On the supply side, it inflates prices, “gnaws” on disposable income, limits turnover, “slows down” growth dynamics.
No Member State can just face or cover the costs.
That is why coordinated, immediate, bold European action to tackle, effectively and in solidarity, the consequences of the crisis, but above all the crisis itself.
The Greek Government, with specific proposals, actively contributes to the search for optimal solutions at the level level.
Solutions for:
- tackling the energy crisis by reducing distortions and speculative pressures,
- the completion of the banking union, the promotion of the union of the capital markets,
- the conclusion of the international agreement on taxation,
- the new financial rules “.