EU’s Commission on Wednesday removed Greece from its list of macroeconomic imbalances marking a turning point in the nation’s post-crisis recovery. The move formally winds down a painful 16-year chapter of heightened economic surveillance that led to the era of bailouts.
Among the factors emphasized in the European Commission’s report are Greece’s resilient growth rate of 2.1% of GDP in 2025, in spite of conditions of global uncertainty, and projections for continued strong growth, the continued high primary surplus, reaching 1.7% of GDP in 2025, the significant decline in public debt, projected to drop to 123.4% of GDP in 2027, making it one of the fastest rates of debt reduction in Europe, as well as the country’s extensive reforms and fast progress in the digital transition, especially in tax and public administration.
Prime Minister Kyriakos Mitsotakis welcomed the milestone on social media, writing that the decision effectively “closes a negative chapter that began 16 years ago.” He emphasized that the achievement was not merely a technocratic assessment, but rather the “foundation for a better life” made possible by the sustained hard work of Greek citizens and the state.
According to Mitsotakis, the structural budget surpluses achieved through recent reforms can now be directly “channeled into higher wages and pensions,” offering tangible domestic relief to a population that endured years of harsh austerity. “This also marks the official end of all surveillance,” he stressed.
The Commission’s assessment highlights a reduction in risks associated with Greece’s public and external debt, alongside solid economic growth, progress on structural reforms, and a stabilized banking sector.
EU says Greece still lags behind
While the removal from the imbalance list signals Brussels’ confidence in Athens’ current trajectory, the Commission also issued a stark reminder: Greece still lags behind its European Union peers in several key economic areas. The country still carries a heavy public debt burden, and average disposable income remains well below Western European standards.
Nevertheless, analysts say that the formal easing of surveillance provides a major psychological and financial boost, potentially lowering market borrowing costs and attracting crucial foreign investment. For a nation that spent over a decade as the epicenter of the eurozone crisis, the validation from Brussels confirms a hard-fought return to economic normalcy.
Related: Italy Set to Overtake Greece as Eurozone’s Most Indebted Country in 2026
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