Economic Governance

The economic crisis that is affecting the whole of the global economy continues to impact the European Union as a whole. Perceiving the essential need for effective and comprehensive handling of the economic crisis, Europe has focussed its efforts on shaping an overall framework of proposals for confronting the eurozone debt crisis and for the long-term strengthening of EU economic governance.

Since early 2010, a series of European Councils have taken a number of important decisions, often after difficult negotiations. The European positions are still in the process of being shaped, given the rapid pace of developments in the European and global economic environment.

Greece supports the efforts to strengthen economic governance and is participating actively in the negotiations on the new EU economic architecture. As a member of the eurozone, Greece is in favor of strengthening the EMU economic pillar and closer coordination of economic policies among eurozone member states.