Greek government set to submit reform package to secure extension on its bailout loan

23rd February 2015


The Greek government is set to unveil a package of reforms to its creditors on Monday in a bid to secure its bailout extension.

As reported on BBC News the list must be agreed by its international lenders in order for it to receive a four-month loan extension.

Minister of state Nikos Pappas has urged that the list would include measures to improve Greece’s civil service and tackle tax-evasion.

On Sunday he told Greece’s Mega Channel that reforms would take the Greek economy “out of sedation”.

In addition, Germany’s Bild newspaper, has claimed that sources close to the Greek government, have said that it is aiming to recover €7.3bn.

Greece currently owes more than €320bn as a result of its eurozone and International Monetary Fund (IMF) bailout. At a meeting on Friday with the European Union and the IMF it agreed to submit the list of reforms before Tuesday.

German Foreign Minister Frank-Walter Steinmeier told Bild the extension agreement reached on Friday with European policymakers had provided the embattled nation with “some breathing space, nothing more”. “Now it’s up to Athens,” he added.

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