Olli Rehn speaks to press on EU Hearings

Olli Rehn says he feels like “grilled chicken” when talking to the press after his EU Hearing at the European Parliament on Tuesday. Country: Finland Position: Economic and Monetary Affairs lli Rehn admitted to feeling like a chicken who has been grilled after emerging from a hearing with MEPs in the Committee on Economic and Monetary Affairs (ECON), on 11 January. Greeces burgeoning budget deficit was high on the minds of the deputies, despite Rehns best efforts to change the subject. It is not the only country which has unsustainable public finances, he said, fighting off suggestions that the eurozone could be brought down by the Greek shortfall, which measured 12.7% of GDP in 2009, the highest in the EU and more than four times the blocs 3% limit. Public debt in the country was also up to 113% of GDP, twice the 60% limit set out in the Stability and Growth Pact. The problem in Greece concerning the excessive deficit and rapidly rising public debt is a serious one, especially for Greek citizens and taxpayers, he told Robert Goebbels (S&D, Luxembourg). Of course, it has got spillover effects for the whole eurozone, but it is not so serious yet that it would threaten the stability of the eurozone. For more: europolitics.info