After eight consecutive years of toil by the Greek people, the European Union is finally recognizing that Greece’s budget is no longer breaking the bloc’s rules, AP reports
The recommendation from the EU’s executive Commission to close the so-called excessive deficit procedure on Greece comes in the wake of the sharp improvement in the country’s public finances after years of austerity.
Pierre Moscovici, the EU’s top economy official noted this is “a very symbolic moment for Greece” and a “recognition of the massive reduction of Greece’s fiscal deficit, to below the euro area average.” Greece, he added, is ready to “turn the page on austerity and open a new chapter of growth, investment and employment.”
Read more here.
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations , Greek travel market, Greek tourism statistics, Greek tourism report
Photo Source: Wikimedia Commons Copyright: Europa credito urgente License: CC-BY-SA
Source: thenationalherald.com
