Moscovici: Greece ready to exit excessive deficit procedure
The European Commission will recommend that Greece is removed from the excessive deficit procedure (EDP), European Commissioner for Economic and Financial Affairs Pierre Moscovici said on Wednesday.
Moscovici, amongst Athens’ most vocal supporters on the European stage, referred to impressive efforts to keep deficits down and post memorandum-mandated primary budget surplus targets.
He said the decision was stalled by last week’s Eurogroup meeting and the final approval of the second review of the ongoing Greek bailout program, which was achieved after more than a year of delay.
The French commissioner said the more-or-less expected decision will be made final in a matter of weeks.
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