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The European Commission awarded it a satisfactory plan of Athens

The European Commission said Wednesday that the reform program initiated by Greece out of the recession and the debt crisis was largely on track.

The process of fiscal consolidation is consistent with guidelines established under the rescue plan member countries of the euro, the commission said in a report on his mission to Athens for the month of June

Brussels also awarded full marks to the advancement of fiscal and structural reforms of pensions and the site opened by the government of George Papandreou in exchange for massive financial support from its European partners and the IMF.

The report notes as well that if tax revenues were slightly below expectations, lower expenditure of the State is it more pronounced than expected.

But the Commission considers that the Greek economy suffers from a lack of competition and some macroeconomic data are incomplete.

"Although this overall assessment is positive, with an application of this program largely on track, this preliminary review has identified a number of pressure points and areas where further progress is necessary," reads the report in .

Greece, the debt crisis has shaken the euro area, negotiated a financial assistance of 110 billion euros with the EU and the International Monetary Fund and pledged in return to a policy of economic stringency in particular through a reform of its pension system adopted in late June by the government.

On Monday, Finance Minister George Papaconstantinou said he was confident his country's ability to meet its goal of reducing the budget deficit to 8.1% of GDP this year, against 13.6% in 2009.

To access the full report of the Commission, in English, double-click here