There are serious concerns regarding the sustainability of Greek debt. This is due to the easing of policies during the last 12 months, which resulted in the recent deterioration in the domestic macroeconomic and financial environment.The Eurogroup recalls that the euro area Member States have, throughout the last few years, adopted a remarkable set of measures supporting Greece’s debt sustainability, which have smoothened Greece’s debt servicing path and reduced costs significantly. [Against this background, in the context of a possible future ESM programme, and in line with the spirit of the Eurogroup statement of November 2012, the Eurogroup stands ready to consider possible additional measures to smoothen Greece’s debt servicing path even further, if necessary, to assure that gross financing needs remain at a sustainable level. These measures, including possible longer grace and repayment periods, will be conditional upon full implementation of the measures to be agreed in a possible new arrangement with Greece and will be considered after positive completion of the first review.]