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Athens News Agency: News in English, 06-06-07

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <>


  • [01] Greece repeats deficit reduction vow

  • [01] Greece repeats deficit reduction vow

    The government is clearly committed to attaining a fiscal deficit below 3.0% of gross domestic product, the European Union's ceiling, in 2006 and 2007, Finance Minister George Alogoskoufis said on Wednesday.

    Speaking to reporters after sessions of EU and eurozone finance ministers, Alogoskoufis said that monetary affairs commissioner Joaquin Almunia had made a positive recommendation on reducing Greece's fiscal deficit during a sidelines meeting.

    The Greek official that eurozone ministers agreed that Europe was seeing an economic upturn, despite hazards from the global scene, especially rises in oil prices and turmoil in financial markets.

    Asked to comment on the euro-dollar parity, he said that the rate was not worrying, and would not play a decisive role in Europe's large economy. Exports would be affected, but the continent's economic recovery was independent of the foreign currency parity.

    Finally, the Alogoskoufis reported that EU ministers had endorsed a proposal by the bloc's executive Commission and European Central Bank that Slovenia should join the eurozone.

    "This is a major decision. There is a clear preference on the part of the new member states to take part in the eurozone, and I hope this will occur for all the old members as soon as possible, as this would benefit the overall European economy," he added.

    Athens News Agency: News in English Directory - Previous Article - Next Article
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