Greece concludes the third economic adjustment programme

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Author (Corporate)
Publication Date August 2018
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Summary:

Greece successfully concluded the third and final economic adjustment programme on 20 August 2018. This programme was launched in August 2015 and the agreement on the successful exit was adopted by the Eurogroup on 22 June 2018.

Further information:

The exit followed the confirmation in June 2018 that all of the prior actions under the final review of the programme had been completed. On 6 August, the European Stability Mechanism (ESM) approved a final disbursement of €15 billion of financial assistance.

Greece benefitted from financial assistance from the European Union since 2010. The Greek authorities requested a new ESM stability support programme on 8 July 2015. The European Commission signed, on behalf of the ESM, a Memorandum of Understanding for a three year stability support programme on 20 August 2015.

Related Link(s)
Commentary and Analysis
Deutsche Welle, 20.08.18: Post-austerity, Greece gets a second chance https://p.dw.com/p/33Obp
Euro|topics, August 2018: Athens leaves the euro bailout fund https://www.eurotopics.net/en/204995/
Chatham House: Expert Comment, 16.08.18: Greek Bailout: IMF and Europeans Diverge on Lessons Learnt https://www.chathamhouse.org/expert/comment/greek-bailout-imf-and-europeans-diverge-lessons-learnt
openDemocracy: Can Europe Make It?, 20.08.18: Greece, August 2018: a mid-term report from a Syriza MP https://www.opendemocracy.net/can-europe-make-it/costas-douzinas/greece-august-2018-mid-term-report-from-syriza-mp

News
The Guardian, 20.08.18: EU says Greece can 'finally turn the page' as bailout ends https://www.theguardian.com/world/2018/aug/20/eu-greece-bailout-ends-pierre-moscovici
Kathimerini, 20.08.18: Greece exits bailout programs but concerns remain http://www.ekathimerini.com/231877/article/ekathimerini/news/greece-exits-bailout-programs-but-concerns-remain
BBC News, 20.08.18: Greece emerges from eurozone bailout programme https://www.bbc.co.uk/news/business-45243088
EurActiv, 20.08.18: Greece exits bailout programme but faces hard times ahead https://www.euractiv.com/section/economy-jobs/news/greece-exits-bailout-programme-but-faces-hardship/
Politico, 19.08.18: The Greek Rorschach test https://www.politico.eu/article/greece-debt-bailout-the-greek-rorschach-test/

Official
European Commission: Press Release, 20.08.18: Greece begins a new chapter following the conclusion of its stability support programme http://europa.eu/rapid/press-release_IP-18-5002_en.htm
European Commission: Commissioner Moscovici's remarks on the conclusion of the European Stability Mechanism (ESM) stability support programme for Greece http://europa.eu/rapid/press-release_SPEECH-18-5084_en.htm
Eurogroup: News, 20.08.18: Greece's financial assistance programme ended after 8 years http://www.consilium.europa.eu/en/council-eu/eurogroup/president/news/2018-8-20-greece-programme/

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