The European Commission is expected to give a signal for a return to normalcy by the bailout countries this fall – meaning an exit from post-program surveillance – likely including Greece.
Brussels has submitted a proposal, which foresees that the bailout countries will not have to wait until 75% of the assistance they received through their programs has been repaid to exit post-program surveillance. European sources estimate that the Commission will probably want to include Greece in the group of countries that will immediately exit surveillance, so that it will not have to wait, alone, until next summer. After all, enhanced surveillance was also a form of post-program surveillance.
The fact that it has already exited the macroeconomic imbalance regime last month, within the framework of the European Semester (where four other countries remain), also supports a positive proposal for Greece. The assumption of the presidency of the Eurogroup by Kyriakos Pierrakakis is also having a positive effect on the country’s prestige.
Sources, however, explain that post-program surveillance is a process that has recently passed under the radar anyway.
