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EU warns Greece to stick to austerity plan


Europe

EU warns Greece to stick to austerity plan

Brussels has warned Athens it has no choice but to stick to the tough budget discipline set out in its recently negotiated bailout deal.

Speaking for the first time since Greece’s election on Sunday, which saw a big backlash against austerity, the EU Commission’s President Jose Manuel Barroso, urged the debt stricken country’s political leaders to act responsibly.

‘‘The programme countries have no alternative, except disorderly default, except that I think it is not an alternative, than to pursue courageous fiscal consolidation measures, structural reforms for competitiveness, and of course, mostly also benefiting from European solidarity, some targeted investment – but investment that can bring growth,” Barroso said.

Despite the on-going political uncertainty in Athens following Sunday’s electoral result, President Jose Manuel Barroso insisted Brussels remained committed to Greece.