Commission / Supervision is coming for Greece
Greece is being led into a suffocating fiscal framework, something that may even rule in elections.
In particular, a two-tier fiscal surveillance regime, with tighter oversight for Greece and other heavily indebted countries, although the suspension of general deficit and debt rules will be extended for another year, the European Commission will suggest to finance ministers on Monday. . . The agreement was reportedly reached by European commissioners yesterday, as Politico reports in a post citing three EU officials.
The Commission’s intention to maintain a suffocating framework for oversight in heavily indebted countries, with Greece first, had been made clear earlier by Economy Commissioner Paolo Gentiloni, who said three days ago that Greece and all other member states had higher debts. show great care in reducing debt.
“In general,” Gentiloni said, “I can say that Greece and all the Member States with higher debt should be very careful in reducing the level of debt and limiting the current expenditure financed from the budget.” “This is a principle that must be taken into account not only by Greece, but also by all member states with higher debt.”