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Dombrovskis: The countdown for Greece's return to the market has started

Greece can tap the markets, European Commission Vice President Valdis Dombrovskis said on Thursday in an interview with Euro2day.gr adding that the closure of the excessive deficit procedure and the maintenance of the targets of the programme will unlock the procedures.

"The European Commission's decision to recommend the closure of the excessive deficit procedure for Greece is another step for the economic and financial stability that Greece has achieved," Dombrovskis stressed and added: "The next step is to get prepared in order for Greece to return to the markets and stand on its own feet."
In order for Greece to return to the markets, "two things are needed: the first one has already been achieved and it has to do with the excessive deficit procedure and the second one is to continue implementing the reforms and ensure growth."
Asked on the conclusion of the programme review, he said that the programme is within the targets, including the growth target, and this will allow the disbursement of the loan tranche.
Dombrovskis estimated that Greece will normally return to the markets at the end of the programme in 2018, but the preparations will begin now more or less.
The Vice-President of the Commission stressed the close cooperation with the Greek authorities for the necessary preparations. "We need to test the markets, and make sure that there is confidence in Greece's return." 
On the debt and Eurogroup's decisions, he stressed that the measures will be discussed at the end of the programme. "We will definitely update the debt sustainability analysis (DSA)," he said and added: "In 2016 there was an overperformance of the fiscal targets and this needs to be taken into account at the update of the DSA."
In conclusion, the Vice-President of the Commission said he is convinced that it will be recognized by the IMF, which agrees with the conditionality of the programme, that the goals will be met and we will have the expected results in growth and fiscal sustainability.