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Image header Agence Europe
Europe Daily Bulletin No. 11828
Contents Publication in full By article 17 / 29
ECONOMY - FINANCE - BUSINESS / Greece

Commission proposes to end excessive deficit proceedings

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...

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