Greece Submits Economic Reform Plans To EU

Written By Unknown on Selasa, 24 Februari 2015 | 12.15

Greece is set to submit a list of economic reforms demanded by its creditors to extend the country's bailout programme on Tuesday.

The proposals had been due in by late Monday night as a condition of the support from the European Union (EU), the European Central Bank (ECB) and the International Monetary Fund (IMF).

The four-month loan extension is subject to the list of reforms gaining approval.

The deal was announced on Friday evening following often hostile negotiations in Brussels.

It was painted by the country's prime minister Alexis Tsipras as a victory for the Greek people though it does little to reduce its financial obligations.

The list is understood to contain pledges to raise more in tax from the country's top earners and from a crackdown on smuggling.

The German tabloid Bild reported that the Greek government hoped to take €2.5bn (£1.8bn) more from powerful Greek tycoons, citing sources close to the hard-left government.

A similar amount would be drawn from back taxes owed to the state by individuals and businesses, Bild said.

However, the document is also said to include commitments on raising the minimum wage and protecting pensions. 

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