EU ministers want to punish Athens for bringing the country up to the fiscal crisis threatening the stability of neighboring states, and for podsovyvanie fraudulent statistics.

the end of 2009 over Greece loomed the specter of default. The budget deficit the country has been blown up 12,7% at the maximum allowable in the EU 3%, and the national debt exceeded $ 450 billion, or 120% of GDP. This caused a decline in international credit ratings of the country, as well as the emergence of market speculation about the probability of failure of Athens to pay the bills and the possible withdrawal of Greece from the 16 eurozone states.

“The fate of one - is the fate of all. The situation in Greece have a negative impact on other EU countries. The fear of investors that Greece and other European countries will suffer from budget deficits erode the euro”s value and reduce yields of the proceeds from the bond,” - said at the press conference yesterday, EU Commissioner for Economy and Monetary Policy Joaquin Almunia. Yesterday, the euro sank a further 0.8% against the dollar - up to $ 1,426 /EUR1, after rating agency Fitch has announced a major uncertainty about the readiness of the Greek authorities to implement their promises to streamline the budget.

Last week, Greece under pressure from colleagues in the European Union presented an ambitious three-year plan aimed at reducing the budget deficit to 8,7% in 2010, followed by a decrease to 2,8% in 2012, but those promises were not impressed by the financial EU ministers, who met Tuesday in Brussels to discuss methods of influencing policy of Athens. According to the Swedish Finance Minister Anders Borg, the EU leaders were angry because of the fact that the assessment of the real situation and effective action to improve it prevents the Government of Greece statistics, which can only be described as fraudulent.

“We need to determine which measures taken by the Greeks are in place. We need statistics that we can trust, and we need to see real steps aimed at strengthening the budget. Greece should realize that it does not help anyone except herself . She has no reason to expect any help from outside, “- said Finance Minister of Finland Jirkov Kataynen.

According to Reuters, the curators have decided to take Greece to the European Union under the strict control: a few weeks the European Commission will prepare a list of recommendations for the country to reduce the budget deficit to 3%. This task should be completed by 2012

Also the European Commission will determine the sanctions that are already in June 2010 in Athens will be punished for non-compliance of the recommendations. Under the rules of the EU country can be fined up to 0,5% of GDP. In addition, Greece can be cut off from receiving funds from EU structural funds and loans from the European investment bank. However, the authorities of this country”s promise to rectify the situation as soon as possible.

“The decision is very serious problems we will start with taking the necessary steps to restore confidence in the Greek statistics. Our plans to reduce fiscal deficits are ambitious, but realistic, and I am absolutely sure that the people of Greece would support measures to reduce budget expenditures. By the end of February Government presents to Parliament the tax reform, “- said yesterday the Minister of Finance of Greece Georgios Papakonstantinu.

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