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Brussels, 11 February 2010



Statement by the 

Heads of State or Government

of the European Union

All euro area members must conduct sound national policies in line with
the agreed rules. They have a shared responsibility for the economic and
financial stability in the area.

In this context, we fully support the efforts of the Greek government
and their commitment to do whatever is necessary, including adopting
additional measures to ensure that the ambitious targets set in the
stability programme for 2010 and the following years are met. We call on
the Greek government to implement all these measures in a rigorous and
determined manner to effectively reduce the budgetary deficit by 4% in
2010. 

We invite the Ecofin Council to adopt at its meeting of the 16th of
February the recommendations to Greece based on the Commission's
proposal and the additional measures Greece has announced.

The Commission will closely monitor the implementation of the
recommendations in liaison with the ECB and will propose necessary
additional measures, drawing on the expertise of the IMF. A first
assessment will be done in March.

Euro area Member states will take determined and coordinated action, if
needed, to safeguard financial stability in the euro area as a whole.
The Greek government has not requested any financial support.

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PRESS

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