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GreekReporter.comGreek NewsEconomyCommission VP Dombrovskis: We didn't Ask Greek Govt to Raise Taxes

Commission VP Dombrovskis: We didn't Ask Greek Govt to Raise Taxes

DombrovskisAthens has ignored the European Commission’s advice that spending cuts would do less damage to Greece’s potential for growth than raising taxes, said European Commission Vice President Valdis Dombrovskis.
The Commission VP spoke to Kathimerini newspaper stating that creditors have not decided on a way to ease Greece’s debt because there are differing views, thereby medium and long term debt relief measures will not be finalized by the May 24 Eurogroup.
However, Dombrovskis told the newspaper, a “roadmap” of steps to reduce Greece’s repayments would be ready because European creditors want to convince the International Monetary Fund to remain in the country’s bailout program.
The gap between the IMF and European creditors is still wide, with the Commission proposing the steps of easing the debt to be gradual, while the IMF insists that the measures should be taken immediately and run through 2018 when the three-year program is completed.
Also, the euro zone and the IMF differ on the debt sustainability analysis, with the latter seeing the Greek debt growing dramatically.
Europe aims to a compromise so that the bailout program review can be completed by the May 24 Eurogroup, so that the green light is given for the 5.7-billion-euro bailout tranche, followed by another 3-5 billion provided that certain requirements are fulfilled.

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