Greece's Prime Minister Alexis Tsipras speaks to reporters during a news conference at Thessaloniki International Trade Fair, at the northern Greek city of Thessaloniki, Sunday, Sept. 9, 2018. Prime Minister Alexis Tsipras painted an optimistic vision Saturday night of a Greece that has emerged from eight years of financial austerity imposed by creditors and is on the road to economic recovery. (AP Photo/Giannis Papanikos)

Bailout inspectors return to Greece with new mission

September 10, 2018 - 3:19 am

ATHENS, Greece (AP) — European monitors have returned to Greece to inspect the country's economic reforms, three weeks after its third international rescue program ended.

The five-day inspection, which started Monday, is expected to focus on government promises over the weekend to offer tax relief measures as well as plans to scrap pension cuts promised and due to take effect in 2019.

Greece has committed to delivering high primary surpluses — the budget balance before calculating debt servicing costs — for years to come, along with a series of reforms in exchange for better debt repayment terms.

The end of the bailout means Greece will have to return to international capital markets. However, the country faces a troubled return after the financial turmoil in Turkey and Italy halted a decline in Greek borrowing rates.