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EU to stop Greek budget watch in formal end to major crisis

BRUSSELS (AP) — The European Commission says it’s winding up years of surveillance of Greek government spending. The move, on Aug. 20, will mark a formal end to a major crisis that threatened to see Greece ejected from the euro single currency group. It also imposed severe hardship imposed on Greek citizens and created a deep rift between them and the EU’s institutions. But the commission said Wednesday that “Greece has delivered on the bulk of the policy commitments” made to its partners in the 19-country euro area. Greece was granted billions of euros in three bailout funds after 2010 when Athens lost access to international bond markets after admitting it had misreported key financial data.

Article Topic Follows: AP National News

Associated Press

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