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ESM
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Economy
Greece out of fiscal spotlight, but economic imbalances still a worry The European Commission announced last week that it started an excessive deficit procedure for France and Italy, but Greece is not in the spotlight over its public finances, although Brussels has again highlighted various imbalances in its economy.
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EconomyMacroeconomy
Greece sticks to debt repayment strategy amid uncertainty caused by EU elections Following a disappointing result in the European Parliament elections on June 9, Prime Minister Kyriakos Mitsotakis appeared on Bloomberg last Wednesday to reassure markets that his government is stable and determined to follow its reform agenda.
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EconomyProgramme
Exit from enhanced surveillance nears, but fiscal commitments bind Greece until 2060 Greece is a step away from exiting the enhanced surveillance regime, the monitoring regime that was introduced after the completion of its third bailout, which is due to expire on August 20.
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EconomyMacroeconomy
Greece's fiscal path becoming clearer; sizeable adjustment lies ahead After two years of fiscal relaxation across the eurozone thanks to the activation of the escape clause, allowing fiscal rules to be eased so governments could cushion the blow of the pandemic, Greece’s future fiscal path started to take shape over the last few days.
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EconomyProgramme
ESM report highlights programme weaknesses, outlines improvements for future bailouts The European Stability Mechanism published on Thursday, along with its 2019 annual report, an independent evaluation of the Greek bailout programmes.
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PoliticsGreek Politics
PM joins forces with some eurozone partners to lobby for "corona-bond" Prime Minister Kyriakos Mitsotakis and eight other European leaders wrote a letter to European Council president Charles Michel on Wednesday, ahead of Thursday’s teleconference, arguing for a coordinated eurozone-level response to mitigate the impact of the coronavirus pandemic on member-states’ economies.
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EconomyProgramme
Greece prepares more measures to support economy after Eurogroup relaxes fiscal restrictions The government is lining up a new set of economic measures to help businesses struggling due to the impact of the coronavirus after receiving the all-clear from the Eurogroup regarding this year’s fiscal target.
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EconomyProgramme
Athens steps up drive for fiscal space as fifth post-MoU review continues Monday’s Eurogroup in Brussels will provide the first opportunity for the Greek government to sound out European officials regarding its efforts to create more fiscal space, while discussions will continue in Athens this week regarding the fifth enhanced surveillance review.
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EconomyProgramme Athens hopes IMF prepayment go-ahead aids case for lower fiscal targets The Greek government is hoping to get the all-clear from the European Stability Mechanism (ESM) on Monday to make a loan pre-payment to the International Monetary Fund, a move which Athens hopes will boost its chances of convincing its creditors to lower its fiscal targets for the coming years.
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EconomyProgramme
Athens launches drive to pre-pay part of IMF loan, bringing budget benefits Greece has launched the formal process to pre-pay part of the loans it has received from the International Monetary Fund after Finance Minister Christos Staikouras officially requested clearance from the European Stability Mechanism in a letter on Monday.