Greece to be removed from EU deficit blacklist
(VOVWORLD) - The European Commission on Wednesday recommended closing the Excessive Deficit Procedure for Greece, saying the three- times bailed-out country has made substantial efforts in recent years to consolidate public finances although it still needs continued support until 2018.
European Commission Vice-President Valdis Dombrovskis at a press conference in Brussels, Belgium on 29 June 2017 (File photo: EPA/VNA)
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European Commission Vice-President Valdis Dombrovskis said that the recommendation is another positive signal of financial stability and economic recovery in Greece.
According to Commission figures, Greece gained a surplus of 0.7% last year,
The recommendation is expected to be adopted by the 28 EU finance ministers following the summer holiday.