The Commission adopted a series of recommendations for Greece to correct the excessive budget deficit, improve competitiveness through structural reforms and provide reliable statistics.
The European Commission today adopted a series of recommendations to ensure that the budget deficit of Greece is brought below 3% of GDP by 2012, that the government timely implements a reform programme to restore the competitiveness of its economy and generally runs policies that take account of its long-term interest and the general interest of the euro area and of the European Union as a whole.
More specifically, the Commission adopted
The Commission also launched an infringement procedure to ensure the authorities comply with their duty to report reliable budgetary statistics.
It is the first time that the budgetary and economic surveillance instruments foreseen in the Treaty are used simultaneously and in an integrated way. The Commission shares the ambitious budget-deficit reduction targets that the Greek government has set itself as well as the fiscal measures and structural reforms announced in the stability programme.
The Commission also concluded that Poland has taken effective action in compliance with the Council recommendations of July 2009.
>> Ongoing excessive deficit procedure: Poland