Swan warns banks to ease mortgage strain ahead of EU summit
The European Commission said the risk has been lowered because the risk of a Greek default is becoming less likely.
The bloc said the risk of a Greek default has been reduced by a mere seven per cent since the end of 2014 and that the Greek economy has performed well over the past six years.
It said: “Today’s decision is good news for the European economy, the Greek people and the eurozone,” a Commission spokesman said in a statement.
The statement said that the decision could help Greek investors avoid any unnecessary losses and also help to minimise uncertainties.
The Eurogroup of우리 계열 카지노 EU finance라이브 바카라 조작 ministers is due to vote on the final list of proposed rules for the bailout. The first batch of approved rules will be announced on Saturday and the rest will follow the first round of formal voting by Eurogroup members next Monday (3 November).
Analysis: Frank Gardner, BBC business correspondent
The Greek economy has grown at about 8.6% annually since it joined the eurozone in 2004, making it a sign of economic expansion. However, it hasn’t provided the steady expansion people had hoped for.
While a Greek bond default is not expected, with the central bank’s refinancing costs going up, the uncertainty caused by it potentially damaging Greece’s growth could add to the economy’s long-제우스 카지노term problems.
Some commentators have also forecast the Greek economy will drop to zero for the first time in six years, in a trend that has already seen Greece fall off the “recovery basket” of EU member countries that makes up most of the currency and bond markets.
Greece has been negotiating with its international creditors for nearly six months and, despite this, the country has been unable to move beyond the first stage of talks in Brussels.
With European banks, Greece is looking increasingly isolated and the economy has been hit by deep budget cuts.
Greek finance ministers have insisted that a debt repayment of 10bn euros (£7bn) will be made by the end of April if they hold a second round of talks.
The eurozone’s debt crisis will continue until Greece has reached a deal with its creditors, which are not holding their breath.
Eurozone countries and finance ministers are expected to announce a further four “fiscal targets” for 2014-2020 over the coming weeks, aimed at cutting deficits by between 4% and 5% of economic output, the Commission says.