Greece submits economic reform proposals to creditors
Finance Minister Yanis Varoufakis has already submitted a draft proposal; creditors must approve it on Monday.

The Greek government has already submitted Sunday a draft proposal of economic reforms to creditors, Greek government officials said Monday.

The proposals for reform are required by the agreement with creditors signed Friday in an eleventh-hour deal.

Minister of State Nikos Pappas said in a television interview Sunday that the list would include measures to tackle tax evasion and streamline the civil service.

Other reforms address structural issues, but do not include details of projected revenue increases or spending cuts, Pappas said.

Bailout monitors at the Eurogroup of 19 creditor nations, along with the International Monetary Fund, will determine whether the tentative agreement to extend the €172 billion ($195.7 billion) bailout until June can proceed.

The agreement requires passage and implementation of reforms without delay by the Greek government, which is also not permitted to operate at a deficit throughout the bailout period.

The Greek government may, however, choose which areas of the economy it seeks to address with reforms, subject to the approval of creditors.

Last Modified: 2015-02-23 09:17:42
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