EU – Baltic States, Financial Services, Latvia, Legislation, Security

Commenting on Greece's consumption taxes, Dombrovskis said that current calculations indicate that they will provide additional income, as Greece's current value added tax rate has been very fragmented, while the number of various reduced VAT rates was the highest in the European Union (EU).

"But of course, Greece must also focus on sustainability of various expenditures, including pensions, and other spending items, such as defense spending," the politician said.

When asked whether negotiations on a new loan program for Greece also took into consideration the country's defense capacities, NATO membership, and the potential consequences in case Greece decides to leave the eurozone, Dombrovskis said that defense was also included in the list of austerity measures as one of the areas where the expenditure could be cut.

"This does not go against NATO as Greece's defense spending exceeds 2% of GDP. We should not mix these matters," said Dombrovskis, explaining that the third program is about finance and economy – how Greece will return to economic growth.

This requires reforms to product and service markets, labor market reforms, civil service reforms, tax collection matters. There are many problems that require solutions, and work is under way on a plan how Greece will solve them, explained Dombrovskis.