# Council Implementing Decision (EU) 2016/542 of 17 July 2015 on granting short-term Union financial assistance to Greece (2015/1181)This act has originally been adopted in English only and published in OJ L 192, 18.7.2015, p. 15., Article 2

Extent: E+W+S+N.I.

1. The assistance shall be managed by the Commission in a manner consistent with Greece's undertakings.
2. The Commission, in consultation with the ECB, shall agree with the Greek authorities the specific economic policy conditions attached to the financial assistance as set out in Article 3. Those conditions shall be laid down in the Memorandum of Understanding, which shall be signed by the Commission and the Greek authorities consistent with the undertakings referred to in paragraph 1 of this Article. The detailed financial terms shall be laid down in a Loan Facility Agreement to be concluded with the Commission.
3. The Commission shall verify at regular intervals that the economic policy conditions attached to the assistance are fulfilled, and report to the Economic and Financial Committee. To this end, the Greek authorities shall cooperate in full with the Commission and the ECB, and shall place all the necessary information at their disposal. The Commission shall keep the Economic and Financial Committee informed of all relevant developments.

---
Source: https://www.legislation.gov.uk/eudn/2016/542/article/2 (the official version)
Page: https://openlegislation.uk/eu-decision-2016-542/article-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.