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Athens News Agency: News in English, 06-07-11
CONTENTS
[01] EU satisfaction on Greece's progress in containing deficit
[01] EU satisfaction on Greece's progress in containing deficit
Eurogroup president and Luxembourg Prime Minister Jean-Claude Juncker
and European Commissioner Joaquin Almunia, who is responsible for
economic affairs, on Monday expressed satisfaction over the progress
made toward fiscal balance by a number of countries with large
deficits, including Greece, during the past year.
The two leading EU officials made the comments in Brussels after the
Eurogroup meeting on Monday evening, while they also stressed that all
Eurozone countries should intensify efforts to achieve lasting fiscal
reform and criticized the fiscal laxity tendencies observed in certain
countries which currently are not being subjected to the procedures
aimed at controlling excessive deficit and are not taking any steps to
prevent this from happening in the future.
Referring to the Greek economy, Almunia pointed out that it has made
notable progress during the past year, like the economies of France,
Germany and Portugal which are also countries with large deficits.
On the prospects of the Greek economy, the Spanish European
Commissioner noted that Greece's national economy and finance minister
George Alogoskoufis briefed the Eurogroup on Monday that state revenues
are on a satisfactory course and the Greek government target for 2006
to bring deficit below 3 percentage points of GDP will be met.
However, Almunia pointed out that he and the European Commission were
expressing caution, as always, and anticipate that the Greek deficit in
2006 will be ?around 3 percent?.
The Commissioner reiterated that it is important to stabilize fiscal
balance with interventions of a structural nature adding that in order
to decide if this is the case with Greece he will have to review next
yearâs budget figures, which he expects to receive in the autumn.
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