Greece has successfully completed its final three-year installment of an international bailout program, allowing it to reclaim a degree of control over its finances, which have been overseen since 2010 by the European Union, European Central Bank and International Monetary Fund.
Athens exits its third bailout on Monday after a protracted debt crisis that forced it to implement painful austerity measures — including deep cuts to social welfare programs — to receive emergency loans.
“Today we can safely conclude the [European Stability Mechanism] program with no more follow-up rescue programs as, for the first time since early 2010, Greece can stand on its own feet,” Mário Centeno, the chairman of the ESM’s board of governors, said in a statement reported by Reuters.
Read this story now for free
To continue reading, sign up for our newsletter and get unlimited access to WABE.org
You can select your preferences for news and local content. We will never share your email address. Learn how your newsletter sign-up will support WABE and Public Media
