Greek Finance Minister Christos Staikouras on Wednesday hailed the country’s return to European normality after 12 years following its exit from the enhanced surveillance status.
In a statement, Staikouras said this development will have multiple benefits for Greece as it strengthens is position in international markets, offering additional boost to its growth dynamic and attracting investments, allowing more room in economic policy within the existing EU rules and brings closer the achievement of the country’s last goal, obtaining the investment grade.
The Greek FinMin noted that in a letter received by executive vice-president of the European Commission Vladis Dobrovskis and Economy Commissioner Paolo Gentiloni, the EU officials confirmed the country’s exit from the enhanced surveillance status in August 20 and noted that Greece has implemented the majority of policy commitments to the Eurogroup and efficiently implemented reforms despite the adverse conditions created by the health and more recently the geopolitical crisis, thus significantly strengthened the resilience of its economy.
This development, combined with an early repayment of IMF loans and the full withdrawal of capital controls, ends a difficult chapter for our country, after 12 years. Greece returns to European normality and is no longer an exception in the Eurozone. This achievement is a result and recognition of the great sacrifices of the Greek society, of the government’s economic policy and its reform program, Staikouras said.