Today Greece can stand on its own feet, but greeks are not in festive mood.


Greece emerged from her biggest bailout in economic history. The eurozone’s European Stability Mechanism rescue fund said on Monday that Greece has successfully exited its final, three-year bailout program, agreed in August 2015 to help it cope with the continued fallout from a debt crisis. “For the first time since early 2010, Greece can stand on its own feet,” Mario Centeno, the chairman of the ESM’s board of governors, said in a statement. After nine years of creditor-mandated austerity, today the European institutions have hailed the Greece for the exit with success from final, bailout program. “This was possible thanks to the extraordinary effort of the Greek people, the good cooperation with the current Greek government and the support of European partners through loans and debt relief,” said the ESM, which has disbursed 61.9 billion euros over three years in support of macroeconomic adjustment and bank recapitalization. A further 24.1 billion euros that was available to Athens under the program was not needed, the eurozone’s European Stability Mechanism rescue fund said. Prime Minister Alexis Tsipras is expected to address the nation on Tuesday to mark Greece regaining fiscal sovereignty and the ability set its own economic policies. Greek media reported he would symbolically make the speech on Ithaca, the island where Odysseus returned home from the Trojan war after a 10-year voyage recounted by Greek classical poet Homer. "We are entering a new era for the Greek economy and Greece," said the government spokesman Dimitris Tzanakopoulos. The bailouts may be over for Greece, but austerity measures and taxes continue to squeeze Greeks. They are convinced that the nightmare will only end after 2060, when the the internationals debt is completely repaid.

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