FinMin on Ecofin meeting
The explosion of the unemployment rate in the European Union was the biggest social problem facing EU member-states, Greek Economy and Finance Minister Yiannis Papathanasiou said on Tuesday, adding that employment in Greece remained in better levels compared with other EU states. Speaking to reporters in Brussels, after an Ecofin meeting, the Greek minister said the government was determined to combating unemployment with specific measures, such as programs for the construction sector. Commenting on the European Commission’s unfavourable spring forecasts both for the European and the Greek economy, Papathanasiiou said that, based on new fundamentals, Greece would do the best it can to achieve its fiscal targets for 2009 and 2010. He stressed that the Greek government would brief the Council in June over the condition of the Greek economy and over its plans to cut its fiscal deficit at 3.0 pct of GDP by 2010. ?If we need to take additional measures, we will do it,? he said, adding that ?our obligation is to submit a specific plan by October 24. We won’t wait until then if we have to do something more?. He underlined, however, that any additional measures would depend on the performance of the Greek economy, while he added that the Commission did not take into account the Greek government’s measures to boost economic activity in the country. Papathanasiou said the Council meeting also discussed changes in the taxation of tobacco products. ?Our interest is to support Greek production, the Greek tobacco industry and job positions,? he said, adding that the Council leaned towards a compromise proposal in favour of Greek interests, although it failed to reach a decision.
