After a positive assessment by the European Commission, the general staff of the EU Finance Ministries (EFC) that convened in Brussels on Monday afternoon has given the first green light for Greece’s exit from the Excessive Deficit Procedure (EDP). The final decision will be ratified some time in September at ambassadors’ level (COREPER).

According to AMNA sources, the EuroWorking Group that followed has ascertained that Greece’s economic conditions are improving, given that a 1.75% primary surplus seems possible, bank deposits return and this year’s growth may exceed 1.8%. Regarding the 800 million euro sub-tranche for overdue government arrears to private individuals outstanding since the previous review, the same sources have stressed that next week, Greek government officials are expected to send more details with regard to clearance up to now; after their checking, the European Stability Mechanism (ESM) is expected to approve the sub-tranche disbursement.


Translation: Eleni Gogou