European Commissioner for Economic Affairs Pierre Moscovici on Tuesday ruled out a relaxation of the Greek budget target in comments to the press ahead of a European Union summit in Brussels.
Responding to questions from Greek media over whether the Commission would consider a proposal to loosen the primary surplus target in 2018 to below the current rate of 3.5 percent of gross domestic product, Moscovici said that “no one wants to change the program and I don’t want to create new expectations.”
The International Monetary Fund has disputed this target as being too demanding.
Mr. Moscovici is due to travel to Athens in the 2nd half of July in order to discuss the next steps in terms of implementing the 3rd MoU as well as to meet with local lawmakers and business representatives.
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