Before the Vouli, the Greek unicameral parliament, on Thursday 28 February, Pierre Moscovici, Commissioner for Economic and Financial Affairs, encouraged the Greek authorities to continue their efforts on the budgetary and reform front.
Mr Moscovici's speech followed the publication by the European Commission, of a second report on the enhanced supervision of Athens since the end of financial supervision, the previous day (see EUROPE 12203, 12077).
The Commissioner first congratulated Alexis Tsipras' government for presenting a draft budgetary plan for 2019 that was compatible with the terms of the exit from financial assistance, i.e. with a primary budget surplus (excluding debt service) of 3.5% of GDP. Referring to these primary budget surplus targets until 2022 (and then an average of 2.2% of GDP until 2060), the Commissioner said he believed “that Greece will be stronger if it fulfils its commitments”. “In the future, we will not be able to live forever with such surpluses”, he nevertheless said, a remark that was welcomed by Greek parliamentarians. He did not rule out the possibility that these objectives would not be set in stone: “the future is not written”, he added.
Mr Moscovici also congratulated the Greek authorities on the completion of some privatisations, in particular concerning gas and Athens International Airport.
“This work is not finished, it must continue. It must even be intensified in some areas”, he said, however.
In order for the Eurogroup to decide on 11 March on the disbursement of a further one billion euros instalment of aid corresponding to the profits made by the European Central Bank and the national central banks from the SMP operations to repurchase Greek public debt during the sovereign debt crisis, Mr Moscovici identified further efforts to be made. He recalled that Athens should proceed with the sale of lignite-fired power plants and set up a new main residence system. “I am convinced that a positive decision is possible”, he added. (Original version in French by Lucas Tripoteau)