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Brussels, 15 December 2009

Statement by Commissioner Joaquín Almunia on Greece

"We take note of the Greek government's commitment -- as reiterated yesterday evening by Prime Minister Papandreou -- to cut public deficits and reduce government debt through permanent expenditure cuts and revenue increases. Mr Papandreou has also strengthened the Greek government's intentions in relation to structural reforms in social security, the budgetary process, tax system, and the compilation of statistics. The 2010 budget, which is being discussed in the Greek Parliament, and Mr Papandreou's statement, are steps in the right direction. We look forward to the spelling out in the Stability Programme, which is expected in the course of January, of concrete measures that will strengthen fiscal adjustment in 2010 and ensure a fast consolidation of public finances. We will continue to monitor the macroeconomic and fiscal situation and the implementation of the measures", said Joaquín Almunia, European Commissioner for Economic and Monetary Affairs.

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