Home Business NewsEconomic News Greece’s bailout programme ends

Greece’s bailout programme ends

by Purvai Dua
20th Aug 18 9:42 am

After a decade of tough austerity measures, Greece has successfully exited its bailout programme, the euro zone’s ESM rescue fund said today.

“Today we can safely conclude the ESM programme with no more follow-up rescue programmes as, for the first time since early 2010, Greece can stand on its own feet,” Mario Centeno, the chairman of the ESM’s board of governors, said in a statement.

“This was possible thanks to the extraordinary effort of the Greek people, the good cooperation with the current Greek government and the support of European partners through loans and debt relief,” he said.

The EU, the European Central Bank and the IMF had reportedly loaned Greece a total of €289bn in three programmes, in 2010, 2012 and 2015.

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