Greece, the European country hardest hit by the economic and financial crisis, was the first and last to seek financial aid – and the only "recidivism" – and the completion of its third program also means the end of the countries. which started in 2010 and which also covered Portugal (2011-2014), Ireland, Spain and Cyprus.
On Saturday, the Director of the European Stability Mechanism (ESM), Klaus Regling, welcomed the restoration of the autonomy of Greece, after the last rescue program, pointing out that the country will be "a success story".
"I did not believe for a while that Portugal, Spain, Ireland and Cyprus would be success stories, I always refer to these countries as our four success stories, now I can include Greece in this group," always following the agreed reforms, Klaus Regling told the Greek newspaper News247.
Klaus Regling also recalled the importance of continuing Greece's reforms and fulfilling the commitments entered into with creditor institutions.
In early July, the Portuguese Minister of Finance and Eurogroup President Mário Centeno told the European Parliament in Strasbourg a few days after the eurozone finance ministers decided to close the third rescue plan for Greece, launched in August 2015, which is "20 August 2018 to mark on the calendar and celebrate. "
However, the history of the Greek crisis and the euro zone goes back at least until 2010, when the first extraordinary summit of EU leaders was held to discuss the "Greek problem" in the light of the revelations of the Greek authorities had the real macro -economic data of the country hidden and government deficits manipulated, which at that time were 12.5 percent, more than double the announced figure.
In May of that year, after the initial reticence of Germany, the first rescue of EUR 110 billion was approved for Greece, in what would be the beginning of a series of rescue operations for countries in the euro zone – with participation from the International Monetary Fund ( IMF) – amidst a sovereign debt crisis, including, just a year later, in May 2011, Portugal.
In March 2012, a second rescue plan of € 130 billion was approved for Greece, but Athens is slow to adjust its public accounts, and the deepest crisis takes place in 2015, when the Syriza of Alexis Tsipras stands in power and sees itself placed versus the creditors, the "Troika", in negotiating the closing of this second aid program, and became the confrontation between the then Greek finance ministers, Yanis Varoufakis and German, Wolfgang Schäuble.
At a time when Portugal had already completed its aid program, Brussels is now aware of the most troubled moments in its history, with a "marathon" of extraordinary summits at the level of finance ministers, but also heads of state and government, during which floated the threat of an "expulsion" of Greece from the euro zone.
Finally, in August 2015, and with Varoufakis removed from the Tsipras government, an agreement is reached between Athens and its creditors for a third and final assistance program (up to a maximum of € 86 billion), which then arrives at the end. , with a "clean exit" from Greece, which will be further monitored.
Centeno, who took over the Eurogroup presidency in January this year, warned that the Athens authorities should urgently pursue a "prudent fiscal policy" and structural reforms, and noted that there is "improved post-program surveillance".
These enhanced vigilance-like missions every three months – does not mean, however, that Greece remains in one way or another under a program, Centeno said: "Let it be clear:" outside the program "for Greece means" outside the program ", He said, adding that "Greece should participate in the euro like any other country".