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European Commission: Measures inadequate to reduce Greece's fiscal deficit.

Europe Intelligence Wire

| December 22, 2004 | COPYRIGHT 2003 Financial Times Ltd. (Hide copyright information)Copyright

(From Athens News Agency)

Brussels (ANA/M. Spinthourakis) -- The European Commission on Wednesday announced its expected decisions on Greece's fiscal situation, and more specifically on the country's fiscal deficit

In its decision, the Commission ascertains that the fiscal situation in greece is not satisfactory and, as it is obliged under EU legislation, it recommends to the EU Council of Ministers to undertake the required steps to correct the excessive fiscal deficit presented by Greece

More specifically, the Commission announcement ascertained that the fiscal situation in Greece continued to deteriorate in 2004, contrary to the recommendations …

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