Eurozone ministers back Greek reform plans

24th February 2015

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Eurozone finance ministers have approved reform proposals by aimed at securing an extension of its bailout, according to the BBC.

The European Commission described the Greek proposals as a “valid starting point”.

The Eurogroup, made up of Eurozone finance ministers, said it had agreed to go ahead with parliamentary votes in several states to get final approval for the deal.

The reforms put forward by Greece include tackling tax evasion and the smuggling of fuel and tobacco.

In a statement, the Eurogroup said: “We call on the Greek authorities to further develop and broaden the list of reform measures, based on the current arrangement, in close coordination with the institutions.”

Yet¬†International Monetary Fund head Christine Lagarde does not seem to be convinced by the reforms. In a letter to the Eurogroup, she said:¬†“In some areas like combating tax evasion and corruption I am encouraged by what appears to be a stronger resolve on the part of the new authorities in Athens.

“In quite a few areas, however, including perhaps the most important ones, the letter is not conveying clear assurances that the government intends to undertake the reforms envisaged.”

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