Greece has suffered for eight years after the indebtedness crisis
EU leaders are mulling whether or not
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The economy is growing in a acceptable manner and the primary surplus of the Greek budget is higher than the altogether high threshold that has been set.
Respect the finance minister confirmed that, with the next financial disaster already on its mind, the Eurozone is also hoping to agree a number of clearer measures to strengthen its ability to bail out struggling states at its June top.
On the bailout fund, known in Brussels as the European Stability Mechanism (ESM) he voted: “One of the things there is consensus on is strengthening the role of the ESM although, not yet on how much to confirm it”.
“The second thing that there might be consensus on is the Single Firmness Mechanism,” alluding to the creation of a rescue fund.
The president of the Eurogroup, Mario Centeno, cut loosed today that the European institutions are working on a so-called “enhanced scrutiny” tool for Greece after the country exits the bailout program in August 2018.
Although it is unclear as to whether the “scrutiny” would take the form of red tape or regulation on Greece’s ability to recall gather capital, in his letter to finance ministers Mr Centeno said that analyses were in place to “further support the Greek authorities in their proceeded reform efforts in the years after the programme.”
He wrote: “We took note of the design of the Greek government not to request a successor arrangement. On the future monitoring of the productive, fiscal and financial developments,the Eurogroup took note of the so-called ‘strengthened surveillance’ tool, as proposed by the Commission.
“Discussion on the debt strategy pleasure continue in the weeks ahead. On the basis of a successful review, the Eurogroup bequeath decide in June on all the elements to ensure a successful exit of Greece from the program by August.”
Although “reconnaissance” on spending is likely to be tolerated, in February Prime Minister Alexis Tsipras, pleaded against another (fourth) bailout program.
He said: “I think that in June there sine qua non be a comprehensive agreement as to how we will finally exit the program and how we can manage medium-term indebtedness relief measures.”