European Commission

The European Commission has welcomed radical plans by the Greek Government to cut the country’s growing budget deficit.

However there is growing concern regarding the way Greece reports its statistics.

Greece's budget deficit is currently one of the highest in the European Union standing at 12.7 per cent, four times the legal limit for an EU country.  By comparison, the UK has a budget deficit of 13%.

European Commissioner for Economic and Monetary Affairs Joaquin Almunia announces his support for Greek reform plans

European Commissioner for Economic and Monetary Affairs Joaquin Almunia announces his support for Greek reform plans