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The Eurogroup formally approved the second disbursement under the second economic adjustment programme for Greece, following the finalisation of the relevant national procedures and after having reviewed the outcome of the debt buy back operation conducted by Greece.
The Eurogroup welcomed the result of the debt buy back operation, which will lead to a substantial reduction of the Greek debt-to-GDP ratio.
The Eurogroup reaffirmed that this, together with the initiatives agreed by the Eurogroup on 27 November and full implementation of the adjustment programme, should bring Greece's public debt back on a sustainable path, to 124% of GDP in 2020. Greece and the other euro area Member States are prepared to take additional measures, if necessary, to ensure that this objective is met.
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