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  • Upcoming Greek EU presidency to have “austere budget”

    According to diplomatic sources the “Spartan” budget of the upcoming Greek EU presidency in the first half of 2014 will not exceed 50 million euros, compared to the 60 and 80 million euros that were budgeted for the recent Irish and Cypriot presidencies respectively.

    This will be the fifth time that Greece assumes leadership of the EU presidency. The three main priorities for Greece will be supporting growth, developing the Economic and Monetary Union (EMU) and establishing a European migration policy.

    The cornerstone of the Greek presidency will be to find a perfect balance between growth and fiscal stability policies. As such Greece will try to balance to fiscal reform time schedule by implementing a realistic Agreement for Growth and Employment, which could turn into a diverse European investment plan focused on employment.

    Regarding the development of the EMU, diplomatic sources suggested that the banking union will be emphasized, which is necessary in increasing trust and fluidity in the European economy. On the migration and border control front, Greece will highlight the positive aspects of establishing a unified management plan for migration.

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