The economy's surveillance mechanism following Greece's completion of its adjustment programme will not include any commitment to new measures, government spokesman Dimitris Tzanakopoulos said on Wednesday during a press briefing, describing as "historic" the Eurogroup meeting on Thursday because it will formally endorse the completion of the last review of the Greek programme.
Tzanakopoulos said that "Greece is leaving behind a tough period that cost a lot to the Greek people," adding that apart from conclusion of the review, the Eurogroup is expected to decide on debt reduction and the post-memorandum surveillance mechanism.
Regarding the settlement of the Greek debt, he stressed that the framework in which the decision will be taken is already known and was set by the Eurogroup on 15 June 2017: that is, establishing the maximum annual limit of the Greek government's gross financing needs at 15 pct of GDP, and identifying the measures that will make Greek debt sustainable in the short, medium and long term.
Tzanakopoulos expressed the government's optimism that "we are before a substantial solution that will multiply the registered dynamic of the Greek economy". He noted in addition, "A commonly accepted criterion for all those involved in the discussions is that the solution must be convincing for the markets and consolidate Greece's creditworthiness. That is, it will be the final step, leading to the restoration of the country's credibility, which will be able to set up its day-after with certainty and stability as a normal, contemporary European country."