ESM programme (2015-2018): What kind of surveillance will Greece be subject to now the programme is over?

The European Commission activated the Enhanced Surveillance framework, which implies quarterly reports of the Commission to assess its economic, fiscal and financial situation and the post-programme policy commitments. Enhanced surveillance is appropriate due to the large amount of money disbursed by the EFSF/ESM and the unprecedented debt relief. The ESM will closely collaborate with the Commission in the post-programme phase in the context of its Early Warning System.