Greece Needs Close Post-Bailout Supervision, EU Official Says

A senior EU official has cast doubt on Greece’s plans for a clear exit from its era of bailouts after August.
In an interview with Greek daily Ta Nea, the President of the Eurogroup Working Group (EWG) Hans Vijlbrief said Athens will need to be under close supervision after the completion of its current program.
Vijlbrief said that if Greece were to be granted debt relief or conditional debt relief, it would only be natural for creditors to want to keep an eye on the progress of reforms, and to make sure that the measures already been agreed upon are being implemented.
The first years after the completion of the program would be the most crucial ones, he said, adding that strict supervision would be necessary to make sure that Greece stayed on the right path.
Although he noted the Greek government does not want a post-bailout precautionary credit line, its European creditors are ready to provide one, if asked.
Athens has repeatedly stated that it is against a precautionary credit line which usually comes with strict conditions.
Instead, it aims for a cash buffer of up to €19 billion euros ($23 billion) with money raised from markets and unused loans instead, a sum that could cover its needs for over a year, if needed.
Greece’s government has said that it will present a new development plan for the post-memorandum period at the next Eurogroup on April 27 in Sofia.