Centeno: Key for Greece to maintain ownership of reforms

It is very important for Greece to maintain the ownership of the growth plan and the reforms that will be followed after the country exits its bailout program in August, Eurogroup chief Mario Centeno said on Friday, as he arrived for a meeting of eurozone finance ministers in Sofia.

Ministers will discuss how Greece will complete its adjustment program and the remaining prior actions. Finance Minister Euclid Tsakalotos will brief ministers on the growth model that the government is preparing and will be followed in the years to come.

“This is very, very important, because, as I have mentioned several times, it is key for Greece that the ownership of the program and of the reforms remains with the Greek authorities,” Centeno said.

Greece overshot its primary surplus target last year and Centeno welcomed the positive signs on the fiscal front.

“We see good signs from Greece, definitely on the fiscal front, with a primary surplus of 4.2 percent in 2017. Τhis is 2.5 times what was expected on the program,” he said.

Asked whether ministers will discuss debt relief for the country, the EU official said ministers will be focusing of the “entire package” for the finalization of the program and the post-program for Greece.

Eurozone finance ministers will also hear from the heads of the Single Supervisory Mechanism – the ECB’s supervisory unit – and the Single Resolution Board on the health of the European banking sector.