Moscovici: Greece can produce primary surpluses, growth

The EU’s Economic and Financial Affairs Commissioner, Pierre Moscovici, has that that Greece, with the necessary reforms, is in a position to produce surpluses and have new growth in 2019.

“Greece implemented 450 reforms that were necessary. I believe that Greece is now in a position, with structural reforms, to create surpluses and renewed growth in 2019,” Moscovici told Franceinfo radio.
Moscovici also spoke about the fiscal moves that France must make in drafting the 2019 budget, with a stress on controlling public spending.

“The confluence of events is not enough. We must take care to comply with the rules. The reduction of the structural deficit must continue, which means controlling public expenditures, and implementing socially just budget cuts,” he said.

Regarding the need for debt reduction, the European Commissioner said, “A country that becomes indebted is a country that becomes weaker.”

However, he avoided speaking about the ways in which this must be done.

“The member states have the freedom of choice regarding the means of debt reduction,” he said.