Five weaknesses of the Greek economy

Athens EU Finance Commissioner Paolo Gentiloni speaks of an “important step for Greece”, the Athens Finance Minister Christos Staikouras even sees a “historic day”: On Thursday evening the euro finance ministers gave the green light for an end to the “increased surveillance” of the former crisis state. The ministers followed a recommendation from the EU Commission.

Athens can now leave the so-called “enhanced surveillance” behind on August 21st. Greece is “no longer the black sheep of Europe”, commented Prime Minister Kyriakos Mitsotakis. Now “a painful cycle that began twelve years ago” is closing.

During a visit to Athens on Tuesday, Federal Finance Minister Christian Lindner praised the “strong budget figures” and the reform successes of the Greek government. But she must continue her efforts, warned Lindner.

In its most recent “Enhanced Surveillance Report”, the 14th inspection report of this kind since 2018, the EU Commission also attests that the country has made significant progress, but at the same time sees further need for action.