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European Commissioner Rules Out Easing of Greece's Budget Target

MoscoviciGreece should not expect a relaxation of its budget targets for 2018, said European Commissioner for Economic Affairs Pierre Moscovici on Tuesday.
The commissioner talked to reporters ahead of the extraordinary European Union summit in Brussels where member state leaders discussed the Brexit.
Answering to questions from Greek media over whether the European Commission would consider a proposal to ease the primary surplus target in 2018 to below the 3.5 percent of GDP current rate, Moscovici’s reply was negative.
“No one wants to change the program and I don’t want to create new expectations,” he said.
The proposal is made by the Greek side after the International Monetary Fund has disputed this target as being unrealistic, given the present state of Greek economy.
The commissioner, however, considers that Greece is on the right path after completing the first review of the bailout program and is able to fufill its commitments. “(Greece has turned a new page,” he said characteristically.
“Greece is a country we can trust now,” Moscovici underlined.
Moscovici is expected in Athens in late July, where he will meet with Prime Minister Alexis Tsipras to discuss the bailout program terms. During his visit he will also meet with lawmakers and business representatives.

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