Defense spending should not count in deficit, Greek minister tells EU

Economy and Finance Minister Kostis Hatzidakis reiterated Greece’s standing request concerning defense spending during the ECOFIN Council meeting in Luxembourg on Tuesday. 

Greece’s position on the matter is that the EU should not include its defense spending as part of the EU’s deficit calculation. Some EU member countries, he noted, clearly differentiate themselves on this issue compared to others. 

Hatzidakis also said the EU needs to find a balanced agreement that will ensure the restriction of deficits and public debt at European level without undermining economic growth with excessive and rigid restrictions. 

ECOFIN’s meeting focused on the reform of the rules of economic governance and included a briefing on the implementation course of the Recovery and Resilience Fund.