Greece back on track

BRUSSELS: After eight years of toil by the Greek people, the EU is finally recognising that Greece’s budget is no longer breaking the bloc’s rules.

The recommendation from the EU’s Executive Commission to close the so-called excessive deficit procedure on Greece comes in the wake of the sharp improvement in the country’s public finances following years of austerity.

Pierre Moscovici, the EU’s top economy official, said that this is “a very symbolic moment for Greece”.