The experts from the European Commission, the International Monetary Fund and the European Central Bank, who came yesterday to Athens to monitor the progress of the stability programme, expressed optimism that Greece will successfully implement its deficit-cutting plan. Although there is mounting concern about inflation, "we are optimistic […] and we are proceeding as normal," European Commission spokesman Amandeu Altafaj said.
In addition, the Ministry of Finance announced that the downgrade of the country’s credit rating does not reflect in any way Greece’s progress over the past months or the potential created by the country’s effort of fiscal consolidation and increased competitiveness.