And if there's one thing that LIBOR has shown us, it's that we shouldn't take existing benchmarks for granted. Regardless of the reference rate used in a contract, the inclusion of robust fallbacks is required for prudent risk management. Accordingly, it is something that the global central banking and financial supervisory community expects.
(d) The post-programme surveillance framework According to the European institutional framework, the end of the Greek programme in August 2018 does not relieve Greece of its obligations vis-à-vis its lenders. What changes is the form of the surveillance framework for Greece, which must conform to the general surveillance terms and regulations in force in the European Union.