Eurogroup agreement on third review of Greece’s economic adjustment programme

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Series Details January 2018
Publication Date 02/03/2018
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+ Eurogroup meeting, 22 January 2018

The agreement was reached as the Greek authorities implemented nearly all required reforms under this review. It enables the Eurogroup Working Group (EWG) and the gopverning bodies of the European Stability Mechanism (ESM) to take the steps necessary for the disbursement of the fourth tranche of the programme, once the remaining conditions were fully completed.

The Eurogroup also confirmed the start of the technical work by the EWG on the growth-adjustment mechanism, as part of the medium-term debt relief measures to be implemented if needed, following the conclusion of the programme in August 2018.

The Eurogroup reached on 22 January 2018 a political agreement on the third review of Greece's economic adjustment programme. On 2 March, the Eurogroup Working Group announced that all prior actions of the third review of the Greek ESM programme had been completed.

Related Links
Eurogroup: Statement by Eurogroup President Mario Centeno on Greece [2 March] http://www.consilium.europa.eu/en/press/press-releases/2018/03/02/statement-by-eurogroup-president-mario-centeno-on-greece/
Council of the European Union: Greece's third economic adjustment programme http://www.consilium.europa.eu/en/policies/financial-assistance-eurozone-members/greece-programme/
BBC News, 23.01.18: EU creditors to start Greece debt-relief talks http://www.bbc.co.uk/news/world-europe-42787969
Bloomberg, 23.01.18: Greek Stock Rally Holds On as Traders Eye End of Bailout https://www.bloomberg.com/news/articles/2018-01-23/greek-stock-rally-holds-on-as-traders-prepare-for-end-of-bailout
EUObserver, 23.01.18: Greece and creditors prepare bailout exit https://euobserver.com/economic/140646
Deutsche Welle, 23.01.18: Greece secures billions as bailout enters final stages http://p.dw.com/p/2rL8g
Eurogroup: Statement on Greece [22 January 2018] http://www.consilium.europa.eu/en/press/press-releases/2018/01/22/eg-statement-on-greece/
EurActiv, 23.01.18: Greece gets green light for fresh bailout cash https://www.euractiv.com/section/economy-jobs/news/greece-gets-green-light-for-fresh-bailout-cash/
Kathimerini, 23.01.18: Greece wraps up third review at Eurogroup http://www.ekathimerini.com/225155/article/ekathimerini/news/greece-wraps-up-third-review-at-eurogroup
Reuters, 22.01.18: Euro zone awaits expert view to clear new Greek loans https://uk.reuters.com/article/idUKKBN1FB1SQ
EurActiv, 22.01.18: Greece’s debt relief is ‘highly probable and advisable’, says EWG chief https://www.euractiv.com/section/economy-jobs/news/greeces-debt-relief-is-highly-probable-and-advisable-says-ewg-chief/
Kathimerini, 22.01.18: Eurozone awaits expert view on Greek reforms to disburse new loans http://www.ekathimerini.com/225132/article/ekathimerini/business/eurozone-awaits-expert-view-on-greek-reforms-to-disburse-new-loans

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