"The Eurogroup discussed Greece’s progress with reform implementation and its macro-economic outlook, on the basis of the eighth enhanced surveillance report published on 18 November" says the statement releasedby Eurogroup
It is also noted that, as in the rest of the European Union, the pandemic has had substantial social and economic consequences in Greece that, according to the Commission’s Autumn forecast shows a strong contraction in economic activity and rising unemployment in 2020, though a partial recovery is projected for 2021.
"We commend the Greek authorities for the large set of timely, targeted and temporary support measures taken to date to cushion the effect of the pandemic on businesses, workers and the healthcare sector" the statement mentions, and it continues, "against this background, the Eurogroup welcomes the assessment by the European institutions that taking into account the adverse circumstances caused by the pandemic, Greece has taken the necessary actions to achieve its specific reform commitments, and that the necessary conditions are in place to confirm the release of the fourth tranche of policy-contingent debt measures."
"This is great news for Greece and for the whole euro-area. It reflects hard work and good results achieved by Greece." the president of the Eurogroup, Pascal Donohoe, said in a tweet.
