Fin. Min.: A major national goal has been achieved through the exit from enhanced supervision

“The achievement of yet another major national goal is a fact”, Minister of Finance, Christos Staikouras emphasized in his statement, on the occasion of the country’s exit from the regime of enhanced supervision.

“A few days ago, in a letter to the Greek Minister of Finance, the Executive Vice-President of the European Commission Valdis Dombrovskis and the Commissioner for Economy Paolo Gentiloni confirmed the exit of Greece from the Enhanced Supervision regime on August 20, pointing out that our country implemented the the bulk of its policy commitments to the Eurogroup, that it has effectively implemented reforms – despite the adverse conditions caused by the health and, more recently, the geopolitical crisis – and that, in so doing, it has significantly strengthened the resilience of its economy.

“A difficult chapter ends”

This development, together with the early repayment of loans from the International Monetary Fund and the lifting of capital restrictions, closes a difficult chapter for our country closes – after 12 years. Greece returns to European normality and ceases to be an exception in the Eurozone.

This achievement is the fruit and recognition of the great sacrifices of Greek society, of the Government’s economic policy and more broadly of its reform work.

Benefits

The country’s exit from Enhanced Supervision has multiple benefits:

It strengthens the position of Greece in international markets.
It provides an additional boost to its growth potential and investment attractiveness.
It grants degrees of freedom in the exercise of economic policy, within the framework of the existing rules that apply to all European member states.
It brings closer the achievement of the last goal we have set, that of the recovery of the investment grade.

Until this day, despite unprecedented, multi-level crises and new – pan-European and international – challenges, we have proven, both citizens and state, that we can succeed. We set goals and with planning, unity, determination, confidence in our abilities and hard work, we achieve them!

We are making our country stronger in all aspects”, the Minister concluded.