Monday deadline: Greece is ready to present its list of reforms to lenders

Monday deadline: Greece is ready to present its list of reforms to lenders

23 February 2015, 09:51
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On Monday the financial world is expecting Greece's list of reforms to lenders in order to secure a bailout extension. The list must be approved by international creditors to secure the four-month loan extension, according to the Friday's deal.

Minister of state Nikos Pappas has said the list will include measures to tackle tax evasion and streamline the civil service.

A collapse of the deal would revive fears of a Greek exit from the euro zone, says BBC.

According to Germany's Bild daily newspaper, Greece aims to recover 7.3bn euros with measures to combat tax evasion.

German Foreign Minister Frank-Walter Steinmeier told Bild that Friday's extension agreement with European finance ministers had given the region "some breathing space, nothing more", as "now it's up to Athens."

Greece's list of reforms must be approved before eurozone members ratify a bailout extension on Tuesday.

Greek Finance Minister Yanis Varoufakis has said, if the list of reforms are not agreed, "the agreement is dead".

The BBC's Mark Lowen in Athens says that although the Greek government may suggest reforms to tackle tax evasion, re-employ sacked civil servants and increase social spending, in reality it will be forced to adhere to many of the austerity demands of the original bailout.

On Friday, German Finance Minister Wolfgang Schaeuble stressed that there would be no payment of new funds to Greece until the conditions of the deal had been met.

The four-month extension deal is widely regarded as a major climb down for Prime Minister Alexis Tspiras, who won power vowing to reverse budget cuts.

Greek Prime Minister Mr Tspiras said in a televised address on Saturday that his government had "won a battle, not the war". He called the deal an "important negotiating success" but warned that there was a "long and difficult road ahead".

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