ATHENS, Greece (AP) — The European Commission’s vice president says Greece’s exit from its bailout in August would be “a delicate yet perfectly doable exercise, provided that all parties show commitment and act responsibly.”
Speaking during a conference outside Athens on Thursday, Valdis Dombrovskis “upfront debt measures” are needed to ensure Greece’s gradual return to borrowing on international bond markets. He added that Greece and its creditors are working to reach a final deal next week on exiting its bailout this summer.
Greece is to emerge from its third and final bailout on Aug. 20, after eight years of relying on emergency loans from international creditors. In return, it has had to make repeated rounds of deep spending cuts, structural reforms and privatizations and its economy has been under strict supervision by its creditors.