Bulgarian socialist MEP Ivaylo Kalfin is reported to be part of a newly created shadow Troika by the Party of European Socialists to propose rescue measures for debt stricken Greece.

Speaking at a press conference Tuesday, PES European Parliament group leader Hannes Swoboda announced the move, saying that the European Socialists rejected the austerity plan developed by the official creditor Troika comprising the EU, European Central Bank and IMF.