Ecofin meeting…

Greece’s Economy and Finance Minister Yiannis Papathanassiou (right) speaks with European Economic and Monetary Affairs Commissioner Joaquin Almunia in Brussels during an Ecofin meeting yesterday. It was confirmed that Greece has until 2010 to reduce its public deficit to below the 3 percent of GDP limit for eurozone members. Papathanassiou denied claims that the government is thinking of responding by raising VAT or that new taxes are about to be introduced. He pointed to other measures such as the sale of Olympic Airlines and public buildings as steps the government is already taking.

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