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EU Source: Greek Bailout Exit in Sight


Associated Press (AP) is reporting a senior EU official in Brussels saying Greece is close to exiting its bailout program.
Speaking anonymously on Thursday ahead of a major Eurogroup meeting next week, the official told AP there was “a great willingness to say that, basically, nearly everything had been done”.
Greece is due to exit the bailout in August, but country remains highly indebted, with rampant unemployment and protests over controversial reforms being enacted by the government.
A around €6-7 billion ($7.3-$8.5 billion) is expected to be released to Greece in several installments starting next month.
The official also said any post-bailout program would have to be at the request of the Greek government, although supervision of the country’s finances by the EU and creditors is a given.
Two out of three top executives of Greek companies already believe creditors should continue to supervise Athens’ fiscal policy after the end of the bailout program.
According to a survey by the Association of Chief Executive Officers (EASE), top executives of Greek companies appear optimistic about the economy’s prospects in the next 12 months.
However, almost 65 percent of them say European institutions should continue to supervise Greece’s fiscal policies.

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