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25 January, 2000
The European Union Monetary Committee on Monday reacted positively toward the Greek economy's convergence programme, according to unofficial reports.
The committee did not issue a press release after the meeting as the Amsterdam Treaty calls for the committee to hold its meetings confidential." Sources, however noted to ANA that the updated Greek convergence programme was viewed in a totally positive light.
According to the same sources, the committee stressed the need for further structural changes in the Greek economy, the need for continued fiscal discipline in state spending and the need for continuing to employ strict economic policies regarding payrolls both in the private and state sectors.
The decision on the programme rests with the Council of Finance Ministers, due to convene here next Monday.
The programme was already discussed by the plenum of the European Commission last Tuesday and comments surrounding the issues were very positive.
Source: Athens News Agency