The EU Commission has essentially announced the successful completion of the fourth post-bailout for Greece, amid the "enhanced supervision" process that is now followed by European creditors for the thrice bailed-out country.
By N. Bellos
[email protected]
The EU Commission has essentially announced the successful completion of the fourth post-bailout for Greece, amid the "enhanced supervision" process that is now followed by European creditors for the thrice bailed-out country.
A relevant report by the Commission will be sent to the EWG and Eurozone member-states' technocrats, before it is placed on the agenda for debate by Eurogroup participants on Dec. 4.
The review is based on the last inspection by creditors' auditors in Athens between Sept. 23 and Sept. 26, as well as distance talks that followed with the Greek government.
According to reports, the Commission is also recommending the disbursement of 767 million euros in profits generated by Greek bonds held by the ECB and Eurozone members' central banks (SMPs and ANFAs) as collateral for loans to Greece.