LUXEMBOURG -(Dow Jones)- Leaders of the euro area Monday voiced confidence that Ireland, Greece and Portugal would be able to reduce their budget deficits as planned in 2011.
"I'm confident that the governments in these three countries will be able to meet their fiscal targets with the consolidation measures they have taken," European Economic and Monetary Affairs Commissioner Olli Rehn said after a meeting of euro-zone finance ministers.
But new data from Greece will likely increase its expected budget deficit for 2010 and other years as well, "which may require some additional measures...in order to stick to the fiscal target" for 2011, Rehn said.
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