Athens News Agency: News in English, 05-12-19

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From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

[01] Finmin: Results of EU summit a success for PM and Greece

[01] Finmin: Results of EU summit a success for PM and Greece

The total funds for Greece agreed at the meeting come to â¬20.1 billion, to which Greece would have to contribute an additional â¬3.6 billion in national funds to implement the 2007-2013 programme, he said.

The minister also pointed to a series of other measures that favoured Greece, such as an increase in the contribution of Community funds to 85 pct instead of 75 pct in the target 1 regions, and 85 pct instead of 50 pct in target 2 regions like central Greece or the southern Aegean islands.

Greece had also ensured that the Common Agricultural Policy (CAP) will remain unaltered until 2013 and that there would be no reduction in the amounts going to the Convergence Fund.

According to Alogoskoufis, a delay in a decision on the EU's fiscal prospects in 2007-2013 until the next EU presidency under Austria would have cost Greece â¬4 billion.

At the same time, he noted that the funds secured by Greece would not be enough to achieve the goals set by the government and that further reforms would be required. He said that the change in the N+2 rule (which will now become N+3) concerned the years 2007-2010.

Alogoskoufis also stressed that systematic planning would be needed from here on, because the economy was going through a critical period when problems would have to be permanently solved. Development would come about through extroversion and an increase in competitiveness, he added.

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