Greece happy with EU response

first_img Facebook Twitter: @NeosKosmos Instagram Greek Finance Minister George Papaconstantinou last week expressed satisfaction over the understanding, as he said, shown by Eurogroup president Jean Claude Juncker and EU Economy and Monetary Affairs Commissioner Joaquin Almunia towards Athens’ efforts at greater fiscal consolidation. Speaking to reporters after an ECOFIN meeting here, the minister stressed it was very positive the fact that EU officials acknowledged that positive steps were taken towards the right direction, while they (officials) categorically rejected speculation over the “collapse” of the Greek economy.Papaconstantinou said the Greek problem was mainly a problem of policies implemented by the previous government and stressed that an ECOFIN decision to proceed with the next step of disciplinary procedures against Greece for its excessive deficits was a clear line dividing the past and the future. “A future which will be judged based on decisions taken by the current government and will be recorded not only in the 2010 state budget but mainly in an updated Stability and Growth program to be submitted to the European Commission in January,” he said.The Greek minister said he briefed his counterparts in a Eurogroup meeting over the main aspects of next year’s budget, which aims at supporting the growth of the economy and put the country’s public finances in order by cutting the fiscal deficit by 3.6 percentage points next year. Papaconstantinou said the government will table a new draft law on the tax system to Parliament in May, along with measures to drastically cut overspending in the public sectors, opening a dialogue on the reform of the social insurance system and actions to improving economic competitiveness.He said the European Commission has not made any recommendations to Greece towards cutting or freezing public sector wages.Papaconstantinou reassured markets that Greek state securities were a very good investment.last_img

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