“Greece was very close in completing its bailout program in 2014, but the new Greek government chose different paths” said European Commission Vice President Valdis Dombrovskis in an interview with capital.gr.

“We know that in 2014 Greece was very close  in completing its bailout program” he said adding that the country “had returned to economic growth, and job creations and was on the right track for exiting the memorandum”.

“We were discussing with the Greek government about a subsequent precautionary program, with which Greece would be able to return to the markets. We know that political developments led somewhere else and this proves that economic stability is a prerequisite for economic growth. The new Greek government elected in 2015 chose different paths regarding economic policy. Unfortunately, this undermined development, economic stability and as a result, our estimate for economic growth is now 0%, while at the beginning of 2015 we expected a 2.5% growth” Mr. Dombrovskis said.

Moreover, European Commission’s Vice-President sent another message to the Greek government saying: “Tax hikes instead of spending cuts lead to even deeper recession” suggesting that one should not only take account state revenue, but also the state spending.