Commission VP Dombrovskis says Greece ‘on track’


TAGS: Politics, EU, Economy

European Commission Vice President Valdis Dombrovskis appeared upbeat on Tuesday over the progress of Greece’s third bailout program, saying the country is “on track.”

Responding to Greek media questions at the One Planet Summit in Paris on climate change, Dombrovskis said that Greece is “fulfilling and in fact over-achieving on its fiscal targets.” He added that the country is also “on track to achieving the target of 3.5 percent of GDP for the primary surplus in 2018.”

On the third memorandum that Greece is currently implementing under supervision from its creditors, Dombrovskis spoke of the Greek authorities’ “strong engagement” and “constructive stance.” He said the implementation of pending prior actions is “ongoing,” adding that “it is possible to have a quick conclusion of the third review.”

Regarding Greece’s exit from the memorandum in August, the Commission’s vice president said this will be “discussed after the conclusion of the third review.”

Further measures on the country’s debt, meanwhile, will be discussed before the end of the program, “as has been agreed at the Eurogroup,” on the basis of its decision for short-, medium- and long-term relief measure.

Greek Prime Minister Alexis Tsipras is in Paris attending the summit, along with the president of the World Bank Group, the UN secretary-general and numerous heads of state.