“The government is celebrating the fourth memorandum with new, painful and harsh measures imposed on the Greek people because of its failure,” main opposition New Democracy said on Tuesday on the outcome of the Eurogroup.

In a statement, New Democracy referred to the increase in indirect taxes that will have an impact on the standard of living, the cuts in salaries and the sale of operating and non-operating loans except for the housing loans for first residence.

It also referred to the contingent mechanism that provides for salaries and pensions cuts in case targets are not met while the issue of debt is postponed to the end of the program, that is 2018, and the possibility of a debt haircut is ruled out.

“These measures are harsh and at the same time ineffective,” the statement concluded.