Speaking to Sunday’s Kathimerini, European Commission Vice President Valdis Dombrovskis said that medium and long-term debt relief measures would not be finalized by May 24 but that a 'roadmap' of steps to reduce Greece's repayments would be ready, with the aim of convincing the IMF to retain its role in the Greek program.
Greece also has to tie up some loose ends by next week’s Eurogroup, such as legislating another set of tax rises worth 1 percent of gross domestic product.
Dombrovskis indicated that Athens had ignored the Commission's advice that spending cuts would have damaged the country's growth potential less than tax hikes.