Saturday December 20, 2014 Search
Weather | Athens
17o C
10o 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)  
Tsipras admits there could be hard days ahead
Public medical centers keeping up despite shortages
Scientists to announce Amphipolis skeleton findings next month
PM to take legal action over allegations of bribery in presidential vote
Workers rush to get early retirement
Nine out of 10 workers who retired in the last four months who had belonged to the former special funds of banks and state corporations that have now been incorporated in the Social Security...
Piraeus Containter Terminal goes from strength to strength
Piraeus Container Terminal, the local subsidiary of Chinese giant Cosco Pacific, is expected to handle a total of over 3 million containers in the January-December period of this year. The J...
Inside Business
SOCCER
Abidal cuts short playing career at Olympiakos
Former France and Barcelona defender Eric Abidal announced his retirement from football on Friday, a day before his last match. Abidal said he will finish after playing for Olympiakos agains...
SOCCER
PAOK loss at Giannina brings Olympiakos to within a point
The bad losses that PAOK and Panathinaikos suffered on the road on Thursday allowed Olympiakos to gain significant ground on the table and come to within one point from the top after the mid...
Inside Sports
COMMENTARY
New weapons of diplomacy
Hollywood screenwriters couldnt make it up: That Sony, one of the worlds biggest film producers, would be forced to pull a comedy about the assassination of North Koreas dictator after a ...
EDITORIAL
Oblivious to change
The world around us is undergoing many important changes while we sit around stewing in our own juices. US President Barack Obama is actually talking with Cubas Raul Castro, for example, bu...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Tsipras admits there could be hard days ahead
2. Public medical centers keeping up despite shortages
3. Workers rush to get early retirement
4. Piraeus Containter Terminal goes from strength to strength
5. Moscovici: Creditor inspections to become less frequent and lighter
6. Property capital gains tax halt
more news
Today
This Week
1. Ship with 200 migrants off Pylos towed to Italy after passengers refuse to stop in Greece
2. Independent Greeks MP Haikalis claims attempted bribery for presidential vote
3. Greek PM Samaras confronts peril putting his Greek transformation to vote
4. Independent Greeks leader backs MP's bribery claims, threatens to release video [Update]
5. Gov't spokeswoman says bribery claims 'badly-played charade,' heralds legal action if evidence not produced
6. Former premier Mitsotakis to meet President Papoulias to discuss political upheaval
Today
This Week
1. Juncker warns Greeks against voting 'extreme forces' into power
2. Romanos and the dilemma
3. Samaras summons bond vigilantes with euro exit talk
4. A friendly yet firm message from Pierre Moscovici
5. Europe's drama in Greece needs final act to avoid tragedy
6. High stakes
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.