ECONOMIC AND FINANCIAL AFFAIRS - European Semester: Enhanced surveillance report finds Greece has progressed; post-programme surveillance reports find that Member States can service debt

The twelfth enhanced surveillance report for Greece issued on 24 November as part of the European Semester Autumn Package, finds that the country has further progressed towards achieving the agreed commitments, despite delays encountered in some areas which are partly linked to the challenging circumstances caused by the COVID-19 pandemic and the catastrophic wildfires in August 2021.

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date: 25/11/2021

The report could serve as a basis for the Eurogroup to decide on the release of the next set of policy-contingent debt measures. The post-programme surveillance reports for Spain, Portugal, Cyprus and Ireland find that all four Member States retain their capacity to service their outstanding debt. The Joint Employment Report (JER) confirms that the labour market is recovering, though employment is not yet back to pre-crisis levels.