EU Heaps Praise on Greek Reforms as Post-Bailout Reckoning Nears

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The European Commission talked up Greece’s reform drive, as creditors are beginning to prepare for a discussion on what a post-bailout landscape could look like for the debt-ridden state, Bloomberg News reported. “Greece has undertaken significant reform efforts across all policy areas,” the European Union’s executive arm said in a 187-page report assessing the country’s record of compliance with its bailout terms. “The Greek economy has remained more resilient than expected in a difficult environment, fiscal targets have been widely outperformed, and game-changing structural reforms in areas such as tax administration, the business environment, energy, privatization and public administration have been launched.” With Greece’s third financial lifeline set to expire in August, both Athens and European governments are trying to avoid a politically toxic discussion about another bailout package, which would come with strings attached. Read more.