Barroso tells Greece: "full compliance paramount"

European Commission President Jose Manuel Barroso issued a statement on Wednesday after Greece adopted a 4.8 bln euro austerity package, saying that full compliance with the proposed measures is "paramount."

In the margins of today's visit by Italian President Giorgio Napolitano to the European Commission, José Manuel Barroso, EC President, said the Commission welcomes the announcement by the Greek Government to introduce a set of additional consolidation measures to cut its budget deficit.

The additional budget steps announced by the Greek government today are essential for the stability of the eurozone and the European Commission fully supports them, the President told journalists.

This announcement confirms the Greek Government's commitment to take all necessary measures to deliver the programme's objectives, he added.

Greece came through Wednesday with a new austerity plan worth euro 4.8 billion.

SOUNDBITE (English) by José Manuel Barroso, EC President: the Commission welcomes the announcement by the Greek Government to introduce a set of additional consolidation measures. This announcement confirms the Greek Government's commitment to take all necessary measures to deliver the programme's objectives and in particular to ensure that the 4% of GDP deficit reduction target for 2010 will be met. This assessment is shared by the President of the Eurogroup. Greece's ambitious programme to correct its fiscal imbalances is now on track. The additional measures announced today appropriately include expenditure cuts, and in particular savings in the public wage bill, which are essential for achieving permanent fiscal consolidation effects and restore competitiveness. The announced revenue-increasing measures also contribute to fiscal consolidation. Full and timely implementation of fiscal measures, along with decisive structural reforms, in compliance with the Council decision is paramount. This is in the interest of the Greek people, who will benefit from sounder public finances, better growth prospects and job opportunities. It is as well important for the overall financial stability of the euro area. The Commission considers that correcting imbalances and restoring competitiveness is essential to put Greece back on a sustainable path. The Commission fully supports Greece in this endeavour. The measures announced today provide a strong signal of the readiness of the Greek Government to proceed with courageous decisions.

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[rossii007]

Greece has been firstly raped by Golman Sacs and JP Morgan and now its own government has done the same if not worse to its own people..Greece is finished..it is now owned by the criminal banks who engineered this World Financial Crisis..greece has been sold out..who's next?

[lenny380]

I can't tell the EU did anything to prevent this tragedy in Greece and this may happen in other so called "EU protected" countries.

[graphattic]

BAROSO, SUCK MY BIG FUCKING DICK, you unelected, self appointed pseudo-expert, betrayer of your country, destroyer of peoples. You are just an evil filthy slimy bureaucrat, and we will have to hang you like the decaying scum shit-cunt-bag you are. Go find a Job you retarded pseudoaristocratic ball-sack-skin. I fart at the general direction of your mother BAROSO you PIG! DIE!!! :P Peace !!

[fizzywool]

Ask monsanto how to fix it they know it all . They think gods genetic codes are all wrong so they must be smarter then god right? one plus one equals three is that how it works?

[DanHadan]

@rossii007

Two suggestions:

1. Read: my first comment was a reply to your question ("who's next?").

2. Improve your English--I basically called Barroso's words "un insieme vuoto", i.e. un insieme che non contiene nessun elemento--it might help you understand what you read. O sei un analfabeta?

[rossii007]

@DanHadan wake to yourself you fool..and do some research...all this is by design..the worst is yet to come..portugal, spain..19 countries over 2yrs..wait and see..wake up DanHadan and see whats really going on..

[DanHadan]

Wow, what a wonderful series of sentences full of empty terms.

[DanHadan]

@rossii007

2009 Top EU Countries for DEBT AS PERCENT of GDP & (GDP in billions €)

Italy: debt as percent of GDP & (GDP in billions €): 115% (1,534)

Greece: debt as percent of GDP & (GDP in billions €): 113% (240)

Belgium: debt as percent of GDP & (GDP in billions €): 97% (339)

Hungary: debt as percent of GDP & (GDP in billions €): 79% (92)

Portugal: debt as percent of GDP & (GDP in billions €): 77% (162)

France: debt as percent of GDP & (GDP in billions €): 76% (1,943)

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