On Wednesday 20 September, the ambassadors of the member states of the EU (Coreper) decided to cancel decision 2009/415/EC on the existence of an excessive deficit in Greece.
This decision was made against the Hellenic Republic on 27 April 2009, when the Greek public deficit stood at 3.5% of GDP (see EUROPE 9890). Having implemented many reforms to comply with various bailout plans, Greece saw a primary budgetary surplus (not including servicing of the debt) of 4.2% of GDP in 2016 (see...