Eurogroup: Time to exit enhanced supervision

Eurozone finance ministers are expected to signal Greece’s exit from the enhanced supervision regime.

The Finance Ministers are meeting in Luxembourg today, where, they are expected to approve the 14th (and final) Evaluation Report of the European institutions for Greece.

The German Minister of Finance Christian Lindner after meeting with Minister of Finance Christos Staikouras in Athens, noted that after much arduous effort Greece will exit the enhanced supervision regime and return to normalcy.

Eurogroup agenda

In addition to the exit from the enhanced Supervision, the Eurogroup will also greenlight the grant to Greece of a tranche of 748 million euros, as a return from the profits of the European central banks, from “unshaven” Greek bonds held during the decade of Memoranda.

The tranche will postpone the need to turn to markets during this time of high interest rates.

Following the Eurogroup decision, the European Commission will announce that it will not extend enhanced supervision for Greece after its expiration, on August 20, 2022.