Greece's Creditors Are Said to Plan Post-Bailout Commitments
- Country will have to implement certain reforms by 2022
- In exchange some debt-relief measures will be granted by EU
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Greece’s post-bailout future may not feel much different from the present, as it will include binding targets, compliance reviews, and even disbursements, according to an internal memo circulated among its creditors.
The document foresees quarterly reviews of the country’s finances by auditors representing the European Stability Mechanism, the European Commission, the European Central Bank and the International Monetary Fund. Any “room for Greece to shape its own policies,” will be constrained by “continued engagement with European institutions” to ensure that structural overhauls adopted under its bailouts will be safeguarded, according to the document obtained by Bloomberg.