eurozone countries welcomed the plans for Greece to reduce the debt burden and reduce the state budget deficit, which the Greek Finance Minister Giorgos Papakonstantinu introduced his European colleagues on Monday night, writes The Wall Street Journal.
"We presented a very ambitious program of fiscal consolidation and outlined in detail all the measures to be taken in 2010" - said G. Papakonstantinu.
However, the eurozone finance ministers warned that Greece has to be done to overcome the fiscal crisis, which, as experts fear could spread to other countries in the region.
"The Greek government is aware of the magnitude of problems facing the country - says Finance Minister of Luxembourg Jean-Claude Juncker. - The planned measures are a step in the right direction. We have to be seen whether these measures will be enough."
state budget deficit of Greece is 12,7% of GDP and more than 4 times longer than for the eurozone countries the threshold of 3% of GDP. By the end of the year the Greek authorities intend to reduce the budget deficit to 8,7% of GDP by reducing government spending and increase revenue items.
At
proshgreloy week Greek Parliament approved a three-year plan designed to reduce the budget deficit from 12,7% to 2,8% of GDP, as well as to reduce the public debt of Greece, more than 113% of GDP.
"Greek plan relies too heavily on revenue article - a program criticized Finance Minister Wouter Bos of the Netherlands. - It depends heavily on one-off measures. Netherlands Minister confident that the program needed a more stable foundation.
Management of the European Central Bank last week named the absurd suggestion that Greece can be thrown out of the eurozone because of budget problems.
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