FinMin: Greece to fully respect targets set for 2011

Finance Minister George Papaconstantinou on Tuesday expressed his satisfaction over a Eurostat decision to withdraw all reservations regarding Greece’s fiscal statistics.

Speaking to reporters ahead of a Eurogroup meeting here, the Greek minister said that following a fiscal deficit revision for 2009, Greece will accomplish the biggest fiscal effort ever achieved in the European Union by cutting its deficit by six percentage points.

“It is an unprecedented reduction of the deficit by 14 billion euros,” Papaconstantinou said, adding that Greece would fully respect all targets set and noted that Athens would take any additional measures necessary.