Post-Programme Surveillance Report on Greece, Autumn 2022
On 22 November 2022, the European Commission published the first post-programme surveillance (PPS) report for Greece. It provides an assessment of the country’s capacity to repay its public debt, by looking at the main economic, fiscal and financial developments. It follows the end of the enhanced surveillance for Greece in August 2022. The report presents the findings of the first PPS mission of Commission staff, in liaison with staff of the European Central Bank, to Athens between 4 and 11 October 2022. The staff of the International Monetary Fund also participated in the meetings, while the European Stability Mechanism participated in the context of its Early Warning System.
"This report could serve as a basis for the Eurogroup to take a decision on the release of a final tranche of policy-contingent debt measures agreed in June 2018. These measures consist of the transfer of the eighth and last tranche of income equivalent amounts stemming from central banks’ holdings of Greek government bonds under the Securities Markets Programme and the Agreement on Net Financial Assets, a waiver for the step-up interest margin for certain loans provided by the European Financial Stability Facility as for the second half of 2022, and a permanent reduction of the step-up interest margin as of 2023 until 2049 (total undiscounted value EUR 6 billion)"