The European Commission is positively evaluating progress in terms of the implementation of Greece’s medium -term plan, in the context of the spring semester’s spring package released today.

Specifically, the Commission evaluated the progress on the implementation of the medium -term plans of 18 Member States submitted last fall.

For 12 Member States (Greece, Austria, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, Latvia, Lithuania, Slovenia, Sweden) the Commission evaluates their medium -term plans as “compliant with the recommended maximum increase in the on a case -by -case basis. “

Portugal and Spain generally comply with limited divergences from their recommended routes. However, for Cyprus, Ireland, Luxembourg and the Netherlands, the Commission considers that there is a risk of deviation from the recommended maximum growth rates set by the Council.

As for Member States subject to an excessive deficit (EDP) process, the Commission considers that for France, Italy, Hungary, Malta, Poland and Slovakia, no further measures are taken within the framework of the EPE for these countries at this stage.

For Belgium, following the submission of its medium -term plan, the Commission has set up a new correction course, which is currently pending for approval by the Council. On the contrary, the increase in net Romania costs significantly exceeds the ceiling set by its corrective course, therefore, the Commission is found to have not taken effective measures. For Austria, the Commission considers that the movement of excessive deficit is justified.

Evaluation of macroeconomic imbalances

According to the Commission’s evaluation, Greece, Hungary, Italy, the Netherlands, Slovakia and Sweden continue to face macroeconomic imbalances, as their vigilance remain significant.

Cyprus is ranked in countries that “do not face imbalances”, as its foreign and private debt vulnerabilities retreat, partly due to strong economic growth, while public debt is reduced by continuing fiscal surpluses.

Germany is also classified as a country that “does not face imbalances”, as vulnerabilities associated with the large surplus of current account balances have declined over the years and recently announced significant policy progress.

Romania is still facing excessive imbalances.