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The Agora => Greek News => Topic started by: Maik on Wednesday, 12 July, 2017 @ 21:22:03
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‘End of austerity’ as Greece gets EU budget approval
The European Union has announced that Greece is no longer breaking budget rules.
Wednesday’s recommendation from the EU Commission to end the so-called “excessive deficit procedure” on Greece comes after a sharp improvement in the country’s finances following years of spending cuts and tax increases, and a recession that wiped out a quarter of the economy and caused unemployment and poverty to swell.
“This is a very symbolic moment for Greece,” said Pierre Moscovici, the EU’s top economy official.
“It’s the end of austerity, and the end of austerity means also we need to move to a strategy that’s based on growth, job creation and social fairness.”
http://www.belfasttelegraph.co.uk/news/world-news/end-of-austerity-as-greece-gets-eu-budget-approval-35923881.html