June Marks a Pivotal Month for Greece: Key Announcements and Decisions Ahead
This month, the OECD is set to release new assessments for its member countries, while the European Commission will unveil its recommendations as part of the European Semester, including its stance on the request from 12 nations—Greece among them—to activate the escape clause concerning defense expenditures.
On the same day, a report from Politico indicates that the Commission will clarify that the Recovery Fund will not be extended, which may alert member states struggling to fully utilize their allocated funds.
Although the Greek economy has not reached its full potential, it is on an upward trajectory. In several fiscal metrics, including growth rate, budget surplus, and high primary surplus, Greece outperforms many other European nations.
This will be further assessed on June 4, when the Commission reveals its recommendations to member states within the framework of the European Semester.
Decision on the Escape Clause
Greece, along with 12 other countries, submitted a request before the April 30 deadline to activate the escape clause, allowing for defense spending to be excluded from the constraints on increasing expenditures.
This Wednesday, the Commission is expected to announce its evaluation of Greece’s request.
