Valdis Dombrovskis

European Commission Vice President Valdis Dombrovskis has told Kathimerini in an exclusive interview that a successful conclusion to the third review of Greece's third international bailout by the end of the year would send money markets a convincing message that the program is on track and close to its end - although it's still rather early to discuss a so-called "clean exit," he said.

After eight years, Greece emerged on Wednesday from the European Commission's process for countries with excessive deficit.

The European Commissioner for Economic and Financial Affairs, Taxation and Customs Pierre Moscovici stated that the Greek people had made enormous sacrifices which should not be lost. “This is a particularly symbolic moment for Greece. After so many years of sacrifices for the Greek people, the country finally reaps the fruit of its efforts”, he said.

The official statement:

The EuroGroup meeting has come to and end, and an agreement on the Greek issue has apparently been reached in Luxembourg. The debate over Greece lasted about one and a half hours.

The time has come for eurozone lenders to provide Greece with new loans, a vice-president of the European Commission said on Thursday, a week before eurozone finance ministers meet to discuss the Greek bailout program.

A deal next week on unblocking new loans for Greece is seen as crucial to prevent Athens from defaulting on debts due in July.

''Bulgaria is on its way to the eurozone'', Valdis Dombrovskis, EC Vice-President and European Commissioner for the Euro and Social Dialogue, said at the presentation of recommendations to Bulgaria in the framework of European Semester 2017, quoted by  FOCUS News Agency.

The European Commission presented its proposal for possible ways to deepen Europe's Economic and Monetary Union a few days ago, as part of the public debate on the European Union's future.

With Athens pushing for a speedy conclusion to the second review of the country's third bailout, government aides said on Wednesday they were confident that a staff-level agreement with bailout creditors is likely by next Wednesday at the latest. 

Once this is achieved, the government plans to pass the measures it has agreed to in Parliament in May before the May 22 Eurogroup.

Greece has exceeded its primary surplus targets so we have the basis for the conclusion of the review of the Greek programme, said European Commission Vice President Valdis Dombrovskis.

The EU launched legal action against Hungary on Wednesday over a law that could shut a university founded by US billionaire George Soros, the European Commission said, AFP reported.

"We have decided to take legal action on the higher education law by sending a letter of formal notice to the Hungarian government," EU vice president Valdis Dombrovskis told a news conference.