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Dombrovskis: Greek program on track

European Commission Vice President Valdis Dombrovskis was the latest top European official to express confidence that still-bailout dependent Greece is making progress within the third and last adjustment program, saying the country “is on track”.

He spoke on the sidelines of the “One Planet Summit” in Paris and in answer to questions by Greek reporters.

Among others, the Commission VP praised Athens for meeting and exceeding fiscal targets, including the highly ambitious 3.5 percent primary budget surplus target (as a percentage of GDP) for the coming year.

Additionally, he said the country’s partners have discerned a strong commitment and a productive stance by the leftist-rightist coalition government, with the prospect of an immediate conclusion to the third review of the current bailout highly likely – a far cry from early 2015, when leftist SYRIZA party had rode to a landslide election victory on a promise to “tear up” the bailout agreements with a single law and overturn austerity policies.

Finally, asked about the Tsipras government’s goal of a “clean exit” from the memorandums in August 2018, he appeared more cautious, saying the issue will be broached after the end of the review process.