Brussels approves the austerity of Greece
Athens finally got the good report from Brussels. The European Commission ruled Wednesday that the savings plan acceptable Greek. "The Commission shares the ambitious deficit reduction that the Greek government has set, and the fiscal and structural reforms announced in the stability program," she said in a statement.
Greek Prime Minister George Papandreou, had presented new budget measures, including freezing the salaries of all officials at the last moment on Tuesday evening. The Commission appreciated the welcoming approach.
The approval of Brussels is not a blank check Payday Loan for Bad Credit .The Commission "calls on Greece to explain the tax measures announced and the timetable for their implementation in the coming weeks" and ", more detailed measures to be implemented in 2011 and 2012.
Athens will be placed under surveillance and will be an infringement procedure for lack of reliability of its statistics.
After the announcement of the Commission, the Greek bond yields back down to 6.516% against 6.742% on Wednesday morning around 8:30.
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