Rehn optimistic over an agreement on Greek fiscal gap

Economic and Monetary Affairs Commissioner Olli Rehn sounded reassuring and optimistic on Tuesday that Greek authorities and the troika will reach an agreement on a fiscal gap for 2014 and that Greece will meet its fiscal targets.

During a news conference to present the European Commission’s autumn economic forecasts, Rehn, who is also Commission vice president, said: “The troika’s assessment began only today. Let’s let them work. We know from the past that negotiations with Greece are never easy when they cover fiscal issues or structural reforms, but I think that this time they (the negotiations) are not more difficult than usual. I am certain we can reach a satisfactory solution both on the fiscal gap and on fiscal targets”.

Rehn added that both the spring and autumn assessments of the Commission forecast that Greece will achieve a primary surplus this year and noted that fiscal gaps in 2014 and 2015 will be covered by combined measures to be merged in an ongoing assessment.