Greece removed from the EU’s macroeconomic imbalance list, Prime Minister says this ends a 16-year negative history

(1) Greek Prime Minister Mitsotakis welcomed the European Commission’s decision to remove Greece from the list of EU countries with macroeconomic imbalances, stating that this move “ends a period of negative history that began 16 years ago.” (2) Mitsotakis emphasized that this outcome is the result of joint efforts by citizens and the state, noting that it is not only a technical assessment but also “the foundation for a better life.” The achieved budget surplus can be used in the future to increase wages and pensions. (3) According to the EU’s assessment, Greece’s public debt and foreign debt risks have significantly decreased, economic growth is robust, reforms have made progress, and the banking sector is tending toward stability. Greece had received multiple international bailouts during its sovereign debt crisis from 2010 to 2018 and was once close to exiting the Eurozone.