Moscovici op­ti­mistic about Greece’s fu­ture and eu­ro­zone re­cov­ery

Financial Mirror (Cyprus) - - FRONT PAGE -

Euro­pean Com­mis­sioner for Eco­nomic and Fi­nan­cial Af­fairs Pierre Moscovici has said he has “no rea­son to doubt” the eu­ro­zone’s eco­nomic growth pre­dic­tion of 1.5% for 2015, ac­cord­ing to the EU news and pol­icy site EurAc­tiv France.

The tur­bu­lence of the in­ter­na­tional mar­kets will not desta­bilise the Euro­pean econ­omy, Pierre Moscovici said on Tues­day. The French Com­mis­sioner said that the Chi­nese and Rus­sian author­i­ties were mak­ing sig­nif­i­cant ef­forts to en­sure sta­bil­ity.

He added that at this stage, there was “no rea­son to doubt the va­lid­ity” of the Euro­pean Com­mis­sion’s eco­nomic forecast for the next two years, and that these pre­dic­tions would be re­viewed in Novem­ber this year.

Last May, the Com­mis­sion pre­dicted growth in the eu­ro­zone of 1.5% for 2015 and 1.9% for 2016.

“We are closely fol­low­ing the fi­nan­cial and eco­nomic de­vel­op­ments in China and Rus­sia,” Moscovici said. “The author­i­ties of these coun­tries, both mon­e­tary and po­lit­i­cal, are mak­ing sig­nif­i­cant ef­forts to pre­serve sta­bil­ity. I am con­vinced that the re­cent de­vel­op­ments on the fi­nan­cial mar­kets, which are still in process, will not desta­bilise the Euro­pean econ­omy.”

The Com­mis­sioner also spoke of Greece, and said he be­lieved “sin­cerely that the EU had bro­ken the dead­lock”, and in­sisted on the fact that the Com­mis­sion had con­fi­dence in how han­dled.

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for Septem­ber 20, when Alexis Tsipras will at­tempt to form a more cen­trist, europhile ma­jor­ity gov­ern­ment.

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