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Europe Daily Bulletin No. 8891

18 February 2005
GENERAL NEWS / (eu) eu/ecofin/greece
Council warns Greece to reduce its excessive deficit by 2006 at the latest

Brussels, 17/02/2005 (Agence Europe) - In November 2003, EU finance ministers were expected to suspend France and Germany for excessive deficit and on Thursday they decided to send Greece a Reasoned Opinion over its excessive deficit. Following the Commission's recommendation, the Council decided to give Athens until the end of 2006 “at the latest” to bring its deficit below the 3% ceiling. Taking into account the significant efforts made by Athens to reduce the deficit from 5.5% in 2004...

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