By N. Bellos
The European Commission, as expected, on Wednesday announced that it was extending the "enhanced supervision" regime for the Greek economy by another six months.
The stepped up supervision was part of an agreement between European creditors and Athens for the period after the third memorandum ended in August 2018.
Enhanced supervision is essentially envisioned until 2022, the period in which the Tsipras government has committed the Greek state to posting an annual 3.5-percent primary budget surplus, as a percentage of GDP.
The mechanism will be renewed every six months.
The enhanced supervision framework gives significant leeway to the EU Commission, which could, ostensibly, demand that a member-state take measures if it deviating from agreed targets.
For Greece, meeting post-bailout targets is more-or-less linked to receiving all of the debt relief measures promised by European creditors in 2017.
According to a Commission statement, implementation of agreed reforms is of "vital significance" for the further economic recovery of Greece.
