The end of the heightened surveillance regime is now official and will come on August 20. After his decision Council of Ministers of Economy On June 16, it fell into the hands of the Minister of Finance Christos Staikouras and an official letter from the Vice-President of the European Commission Valdis Dombrovskis and competent commissioner Paolo Gentiloniwhere the decision not to renew the enhanced surveillance status is mentioned.

Since 2018, when the country withdrew from the memorandum and switched to a regime of enhanced supervision, letters from the Commission have been sent out every six months, each time extending this special status.

This time, the letter notes, according to information, that the progress made by the country allows commission not resume heightened surveillance. Thus, from August 21, the country will have a simple supervision regime, which applies to all countries that have concluded memorandums and assistance programs during the financial crisis. This implies more relaxed monitoring and assessment per semester, rather than per quarter, as has been done so far. This monitoring will continue until Greece, like other countries, repays 75% of its official loans.

Greece’s exit from heightened surveillance was originally scheduled for this summer, although the final decision was up to the Commission, which could, if it saw fit, postpone it. In fact, this was combined with the completion of the payment of contributions to cancel the country’s debt.

Finally, there has been a delay in one tranche of SYRIZA, also due to elections, so the final tranche of €750 million is currently awaiting payment. In addition, Greece, despite fulfilling a number of enhanced surveillance commitments, has left some unfinished. Combining these two outstanding debts, the Commission asked the country to meet 22 more preconditions in order to receive the final installment of debt relief in December. An evaluation for this will take place in the fall. However, this month, the exit from increased supervision will occur as usual.