Friday Jul 25, 2014 Search
Weather | Athens
32o C
23o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Rehn: Eurozone has turned corner

The eurozone has passed a turning point and is moving from crisis management to policies focused on structural change and improving competitiveness, EU Economic and Monetary Affairs Commissioner Olli Rehn was quoted on Thursday as saying.

"The last highpoint of the crisis was in June around the time of the election in Greece. Now we have the reverse trend," Rehn told the Financial Times Deutschland daily.

He cited austerity policies introduced by eurozone governments which had helped to reduce budget deficits within the single currency union and said over the summer governments and the European Central Bank had stabilized the situation.

The newspaper said Rehn forecast the eurozone's overall deficit at 3.0 percent of gross domestic product (GDP) this year and 2.5 percent next year, said the newspaper.

"A lot of what we are doing now, such as the paying out of credit to Spain and Greece was already started in the summer," he said.

Rehn signaled he might be ready to accept slightly later deficit reductions if a country's credibility had been won back after introducing structural reforms.

Rehn praised France which has said it aims to achieve a deficit of 3.0 percent of GDP in 2013.

"The structural approach corresponds to our recommendations," Rehn told the Financial Times Deutschland, saying that Brussels could be flexible if Paris failed to achieve the 3.0 percent goal, provided sufficient measures had been taken to reduce the structural deficit. [Reuters]

ekathimerini.com , Thursday December 6, 2012 (11:50)  
Greeks less satisfied with their lives, survey shows
Godfather, 35, shot at Karditsa christening dies
EOPYY removes medical tests as part of streamlining efforts
Thousands of dead fish surface in Lake Pamvotis
Troika concludes review in Cyprus
A team of officials from the European Commission, the European Central Bank and the International Monetary Fund concluded a visit to Nicosia, Cyprus, on Friday, for the fifth review of the i...
Bank deposits rise for fourth straight month in June
Greek bank deposits rose in June for the fourth month in a row, central bank data showed on Friday. Business and household deposits rose to 163.2 billion euros ($219 billion) from 162.1 bill...
Inside Business
SOCCER
Ranieri signs two-year deal to coach Greece
Italian Claudio Ranieri has signed a two-year deal to manage the Greek national team, the Hellenic football federation said on Friday. The 62-year-old Ranieri takes over from Fernando Santos...
TRACK & FIELD
Athens, the Marathon capital of the world for good
Paco Borao, the man who restored Athens as the Marathon capital of the world with the establishment at the Olympic Sports Center of the headquarters of the International Association of Marat...
Inside Sports
COMMENTARY
Forty years of shortsighted party policies
It is 40 years since the restoration of democracy, and the two main parties which were established in 1974 and determined the countrys fate since then are unable to act their age. For decad...
EDITORIAL
Putting the past behind us
Democracy was restored in Greece 40 years ago and the country owes a debt to Constantine Karamanlis for handling the transition and anchoring the country firmly in the safe port of Europe wi...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Greeks less satisfied with their lives, survey shows
2. Ranieri signs two-year deal to coach Greece
3. Troika concludes review in Cyprus
4. Godfather, 35, shot at Karditsa christening dies
5. EOPYY removes medical tests as part of streamlining efforts
6. Bank deposits rise for fourth straight month in June
more news
Today
This Week
1. Draghi safety net becoming blindfold as bonds soar
2. Greek coast guard picks up 77 migrants off Myconos
3. Aegean Airlines resumes flights to Tel Aviv
4. Police report points to less crime in 2014
5. Thousands of dead fish surface in Lake Pamvotis
6. EOPYY removes medical tests as part of streamlining efforts
Today
This Week
1. Greece seen in third bailout as bonds not enough, economists say
2. Climber dies in Mount Olympus fall
3. Greek sovereign debt at 174.1 percent of GDP in first quarter
4. Unequal after death
5. Greek banks able to tap investors after stress tests, HFSF Says
6. Hedge fund Dromeus turns Greek tragedy to triumph with 160 pct gain
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.