Eurozone waves Greek budget through

The eurozone finance ministers have formally approved the Greek budget for 2019, waving it through Monday's Eurogroup meeting.

With the government readying the amendment that cancels the pension cuts for 2019, attention now shifts to the particularly important second European Commission report on Greece in February, as that is directly linked to debt easing measures.

The nod on the budget seals the decision that the planned reduction of 1.4 million pensions from January 2019 will not be implemented and a series of so-called positive measures will be carried out, to be financed by the primary surplus overrun.

"Greece has fulfilled its commitments. This is excellent news. As we have always argued, the cuts to pensions are not necessary," European Commissioner for Economic Affairs Pierre Moscovici stated on Monday.

The government has already drafted the bill...

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