On Wednesday 12 July, the European Commission proposed to end the excessive deficit procedure in place against Greece since 2009.
“This is a symbolic decision. Greece is finally reaping the rewards of its extremely tough sacrifices”, said the Commissioner for Economic and Financial Affairs, Pierre Moscovici.
The Commission's proposal is based on facts: the Greek deficit trajectory, has fallen from a level close to 16% of national GDP in 2009 to a primary budgetary surplus (not including...