Rehn: We agreed that Greece will be under constant supervision

Rehn: We agreed that Greece will be under constant supervision

Until its debt is reduced to 75% of GDP

The supervision of Greece will continue until its debt is reduced to 75% of GDP, according to Olli Rehn, who, replying to a question by SYRIZA MEP Nikos Chountis said that the issue of supervision ‘is a regulation that has been agreed by Member States.’

Answering the MEP’s question on the implementation of Regulation 472/201 on ‘strengthening of economic and budgetary surveillance in the Eurozone,’ the European Commissioner said that this regulation ‘aims to the smooth and effective coordination of economic policies and better interface between intergovernmental instruments for financial assistance and the EU framework.’

According to Rehn, only the needed sound public financial management will ensure the sustainability of the European social model.

Commenting on the response by Rehn, Chountis said that ‘the memorandum government of ND, PASOK and Democratic Left signed and committed Greece under constant and strict supervision for many decades, even after the expiry of the memoranda.’

The SYRIZA MEP said that in his response, the European Commission Vice President Olli Rehn, ‘washed his hands and showed the then government, stating that the said provisions have been agreed by Member States in the Council, and therefore by the Greek government as well.’

As Chountis added, these regulations tend ‘to limit the sovereign and democratic rights of the Member States and in institutionalize unprecedented interventions of the EU institutions and the powerful Member States, to exercise their sovereign economic and budgetary policy and establish a regime of strict austerity at the expense of the peoples of Europe.’
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