May 24th Eurogroup
Key highlights and a preliminary analysis of debt relief measures
After a marathon session in Brussels yesterday, euro area finance ministers acknowledged that a staff level agreement on the prior actions for the 1 st programme review has been reached. This development is expected to have a number of positive implications, such as the lifting of shortterm uncertainty surrounding the outlook of the Greek economy, the re-instatement of a Greek collateral waiver and the eventual inclusion of the country in ECB’s QE programme1 . With regard to public debt, in line with the agreement of the May 9 Eurogroup and upon the full implementation of the conditionality underlying the new programme, euro area finance ministers agreed to implement a three-layer roadmap of relief measures .
The main elements of yesterday’s Eurogroup outcome are highlighted below.
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