Olli Rehn welcomes Greece’s new austerity measures

European Commissioner for Economic and Monetary Affairs Olli Rehn Sunday welcomed new consolidation measures announced by the Greek government, urging all eurozone member states to implement decisions at a special summit on July 21.

“I welcome the expressed commitment by the Greek government to fully meet the agreed fiscal targets this year and next, and to take the necessary consolidation measures to achieve these objectives,” Rehn said.

“Today’s decisions, including the levy on real estate, will go a long way in to meeting the fiscal targets,” he said.

Greek Deputy Prime Minister and Finance Minister Evangelos Venizelos announced a package of additional austerity measures on Sunday, which among others include a new tax levy on real estate and the abolishment of a month’s salary for all elected political officials.

Rehn said that once Greece meets the conditions, he expect the review by the troika could be concluded by the end of September.

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