Valdis Dombrovskis: Decision on debt relief to Greece expected May or June

The decision to provide further debt relief to Greece is one or two months away, European Commission Vice-President for the Euro and Social Dialogue Valdis Dombrovskis said on Tuesday.

Speaking at a meeting by Politico in Brussels, Dombrovskis – who is also in also in charge of financial stability, financial services and capital markets union – said that it would be most likely decided soon, as creditors are now examining both short- and long-term relief measures. He warned however that any debt relief depends on Greece’s adherence to its targets and implementation of deep reforms.

Asked about the IMF’s participation in the fiscal adjustment program, the EU official said the fund has not been contributing to the program financially but remains a participant by setting terms and conditions, and undertaking a technical analysis.