The Greek economy is no longer under the "enhanced surveillance" of the European Commission
Greek Prime Minister Kyriakos Mitsotakis in Athens on May 6, 2022. AP - Thanassis Stavrakis
Text by: RFI Follow
2 mins
In Greece, four years after the end of a third and final international bailout, the "enhanced surveillance" of the country's economy from Brussels is now over.
This Saturday, August 20 thus represents a symbolic date on the way out of the debt crisis, which will have shaken Greece for more than a decade.
The country, still economically fragile, has not yet finished with austerity policies.
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During this summer weekend marked by the heat wave, Kyriakos Mitsotakis, the Greek Prime Minister, has good news to announce to his fellow citizens.
That's good, next year will be an election year and
an opponent's spy scandal
has just broken out in the heart of summer, putting the statesman in trouble.
Enthusiasm is therefore all the more appropriate for his address to the nation about this end of the “enhanced surveillance” of the Greek economy by the European Commission, reports our correspondent in Athens,
Joël Bronner
.
“
Thus ends a twelve-year cycle that has brought pain to citizens, stagnation of the economy and division of society.
(…)
Today marks the end of the Memoranda and all that has been imposed in their name: unsustainable taxes and wage and pension cuts.
Bank audits and public property mortgages, the Prime Minister.
Degradation of National Defense, Public Education and Health.
But also marginalization of the position of Greece in Europe and in the world.
Fortunately, all of this belongs to the past
”, assured Kyriakos Mitsotakis who speaks of a “
historic day for Greece and the Greeks
”.
Debt still at 180% of GDP
"
Greece today is a different Greece
," said the Greek Prime Minister.
“
We have strong growth and a significant drop in unemployment of 3% since last year and 5% since 2019
,” he also added.
“
The Commission recognizes that Greece has fulfilled most of its economic policy commitments
” to the Eurogroup.
The reforms she demanded of her were implemented despite the Covid pandemic and the war in Ukraine, Brussels acknowledged in a statement.
The risks of contagion from Greek debt to other member countries, which have terrified investors so much, have "
decreased significantly
", welcomes the Commission.
The European Commission expects growth of 4% this year while on average in the euro zone it should rise to 2.6%.
But despite the optimism displayed, the Greeks
should feel the effects of a debt for a long time to come
, which today still represents 180% of the country's GDP and which continues to weigh on its economy while its unemployment rate is one of the highest. high in the euro zone and its minimum wage among the lowest.
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Greece
European Union
Economy