Without new memorandum, European surveillance

Standardization … Framework for Reforms … Back to Regularity …

The vocabulary of Brussels for interpreting reinforced supervision in Greece is continually enriched, with the aim of going a little to Greek public opinion the country's new tight austerity – naturally "for its sake" – that it will carry for many years until it reimburses 75% of loans received from partners and lenders. In fact, these modern usurpers are proud to "save" the country …

DOROVROVSKI-Moskovsky presented yesterday at a press conference the decision of the European Commission "on the activation of the reinforced monitoring framework for Greece to support the implementation of the reforms agreed upon after the completion of the stability program of the European Stability Mechanism (ESM). "

In other words, the measures reinforced for Greece, which will be implemented for the first time in the euro area. For the other countries that adopted memoranda, only "supervision" was foreseen …

The Latvian vice-president of the European Commission and the French commissioner both stated that it was not no new program and no new conditions

Supervision "will support the completion, implementation and continuation of the reforms decided, on the basis of the commitments made by the Greek authorities ".

For the two EU officials, the exit of the program of Greece on August 20 is "a great achievement, fruit of the sacrifices of the Greek people, the commitment of Greece in the reforms and the solidarity of its European partners "

They also argued that enhanced surveillance aims to help Greece gain the confidence of markets, investors, companies and entrepreneurs who want stability

The main points text approved by the European Commission for enhanced surveillance in Greece are as follows:

● Enhanced surveillance will facilitate the identification of risks and facilitate appropriate follow-up measures to integrate, monitor and implement the implementation of implementation of reforms in all policy areas covered by the MES program

● It is neither a continuation of the current program nor a new program ame. The current program will expire on August 20th.

The Enhanced Monitoring Framework facilitates support for the completion, implementation and monitoring of the reforms that the Greek authorities undertake to implement under the current Stability Program [19659013]. includes new conditions. The commitments only concern the completion of a series of reforms already undertaken by Greece under the Stability Program and providing for the incentives and guarantees that will be required as debt measures are put in place. implemented in the coming years. months and years

● Surveillance will focus on six areas for which Greece has made specific commitments. These include fiscal policy and structural fiscal policy, social welfare, financial stability, labor and product markets and public administration

● All Member States having recourse to a financial badistance program are subject to

This also requires regular badignments and reports, as well as monitoring the implementation of reforms in the period after the end of the program

However, it is the First Framework for Enhanced Surveillance …

Given the duration of the crisis in Greece and the long period during which the country is receiving financial badistance, its debt still high and the recent agreement on an unprecedented set of measures strengthening supervision is the appropriate approach to facilitate support for the implementation of agreed reforms in the post-period period [19659019] Quarterly Reports

strengthening control, Greece will be the subject of more frequent evaluation missions from the Commission and other institutions. Notification will be made on a quarterly basis

The aim is to bring this monitoring closer to that carried out under the normal European Semester procedure, which will now be applied in Greece as in all other Member States.

Synergies between the two processes will be maximized. The Greek authorities should also provide more detailed information than in the case of normal post-program surveillance

● Quarterly controls will be carried out by the Commission in consultation with the European Central Bank (ECB) and, where appropriate, with the Commission. International Monetary Fund (IMF)

The MES will be part of the early warning system, as is the custom for post-program supervision. The IMF is committed to continue to participate fully in Greece after the expiration of the MES program

• The activation of debt measures will be based on positive reports to be prepared as part of enhanced surveillance

More specifically, a positive report reinforced surveillance will restore to Greece the fiscal equivalent of the revenues of the national central banks from the holding of Greek bonds (profits "SMP / ANFA") [19659002] These profits will be transferred to Greece equally xaminiaia, every December and June, from 2018 and until June 2022, have provided positive enhanced surveillance reports.

● Increased surveillance will operate for an initial period of six months, in accordance with legal requirements. It can be renewed every six months and will probably remain in effect as long as debt-related measures are in place, ie by 2022.

Regular monitoring after the end of the program will begin as soon as it expires ( or will no longer be renewed) as part of enhanced surveillance and will operate until at least 75% of the financial badistance received by Greece is paid.

The first round of tax refund

The refund of tax of 80.9 million euros to 270,000 taxpayers who have already filed their tax return will be process Friday, July 13, by the Independent Authority (19659002) On the basis of clearance figures, one in three taxpayers is entitled to a refund of 300 euros on average.

According to the AAD, the refund amount will be available to taxpayers who have declared an account (IBAN)

On the other hand, taxpayers who do not have an account or have found an error in verifying the IBAN that they said, the refund amount will be available from 20/7/2018 by presenting the return notice to the designated bank of income, which is incorporated into the law on Tax Administration published for the 2017 taxation year.