Greece's fiscal situation is improving but country must remain committed, says European of
Greece’s fiscal situation has improved considerably, but the country has to remain committed to fiscal reforms, a European official said in Brussels on Friday.
"Our opinion is that fiscal targets should not and will not change," the official said, adding that any relaxation of Greece’s commitments would send markets and the public opinion the message that the country is going back to its old habits, just when it’s about to complete its fiscal adjustment programme.
The official also said the economic situation is improving thanks to the reforms adopted recently, but access to markets remains fragile.
To complete the programme safely, he said, more work needs to be done to improve growth and start reducing debt.
According to the same official, Greece now has to convince investors of its committment by adopting the remaining important reforms and continue to pursue sustainable growth and healthy public finances after the programme is completed.
Commenting on the country’s financing needs in 2015, the official said they will be specified in November, once the European Central Bank’s review will be published and when we have a clearer picture of Greece’s fiscal performance in 2014.
