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Europe Daily Bulletin No. 10391
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GENERAL NEWS / (ae) eu/greece

Olli Rehn says Greece should copy Belgium

Brussels, 01/06/2011 (Agence Europe) - EU Economic and Monetary Affairs Commissioner Olli Rehn thinks that Greece should copy Belgium, which was able to make sacrifices to slash its public deficit and pay back a substantial portion of its debt in the 1990s. In an interview with Bloomberg in New York, Rehn said: “Belgium is a relevant example”, showing Greece what is “feasible and do-able”. Opposing any idea of restructuring Greece's debt, the commissioner praised the pledges by private and institutional investors to keep their investment exposure in Greece, echoing the “Vienna initiative” (see EUROPE 10384). “The basic idea would be that banks maintain their exposure on a voluntary basis”,.said Rehn. On Wednesday 1st June 2011, high-ranking officials from the eurozone met in Vienna to examine ways in which Greece can meet its financial commitments in 2012 and 2013. (M.B./transl.fl)

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