EU Sends Envoy to Salvage Greece Deal as February Deadline Looms

by Dramelin 7:30 PM 0 comments

Greek gross domestic product fell 0.4 percent in the final three months of 2016 after growing a revised 0.9 percent in the previous quarter, the Hellenic Statistical Authority said in an e-mailed statement on Tuesday. European rescue monitors had wanted a deal reached by Feb. 20 when euro-area finance ministers gather in Brussels. Greece also beat its 2016 fiscal target, the commission said, achieving a budget surplus before interest of 2.3 percent of gross domestic product, compared with a goal of 0.5 percent. In return, the Greek government will be able to reduce some taxes or social contributions if there is fiscal over-performance. ?It?s crucial that all partners now live up to their commitments so that an overall policy package can be reached as soon as possible,? European Commission Vice President Valdis Dombrovskis told the European Parliament in Strasbourg, France, on Tuesday.