Dombrovskis: European Commission will lower its GDP forecast for Greece

cepDefault Index already showed in January that Greece's creditworthiness is further deteriorating

The EU Commission will revise down its 2015 economic growth forecast for Greece. “In winter we expected growth in Greece this year of 2.5 percent. Our spring forecast for Greece will turn out to be more pessimistic”, EU Commission Vice President Valdis Dombrovskis told German business daily Handelsblatt. In its winters forecasts the EU Commission had still expected that Greece would successfully conclude its existing bailout program. This is now being seen as uncertain, Handelsblatt quoted sources close to the Commissioner. Dombrovskis is also worried about the state of public finances in Greece. "Of course we know that the liquidity situation in Greece is becoming more and more difficult," he said. The cepDefault Index already showed in January that Greece’s creditworthiness is further deteriorating.