European Commission to back Greek deficit-cutting plan

The European Commission is set to back Greek government plans to rein in public spending when the full college of 27 commissioners meets this Wednesday (3 February).

In comments made to Reuters on Monday morning, and subsequently confirmed at a new conference in Brussels, EU economic and monetary affairs commissioner Joaquin Almunia said the Greek spending cuts are achievable but are also surrounded by risks.

"What we are saying to the Greek authorities is: your stability progra...