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The President of the Eurogroup welcomes the announcement by the Greek Government of a set of additional consolidation measures, amounting to 2% of GDP. This announcement confirms the Greek Government's commitment to take all necessary measures to deliver the programme's objectives and in particular to ensure that the 4% of GDP deficit reduction target for 2010 is met. Greece's ambitious programme to correct its fiscal imbalances is now credibly on track. The additional measures appropriately include expenditure cuts, and in particular savings in the public wage bill, which are essential for achieving permanent fiscal consolidation effects and restore competitiveness. The announced revenue-increasing measures also contribute to fiscal consolidation. Full and timely implementation of fiscal...
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