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Greece submits proposed reforms in bid for loan extension | Greece submits proposed reforms in bid for loan extension |
(35 minutes later) | |
Greece has submitted a list of reform proposals to its bailout creditors, the European Commission says. | Greece has submitted a list of reform proposals to its bailout creditors, the European Commission says. |
The list was received "on time" before a Monday deadline, a spokesman tweeted. | The list was received "on time" before a Monday deadline, a spokesman tweeted. |
The measures include combating tax evasion and tackling the smuggling of fuel and tobacco. | The measures include combating tax evasion and tackling the smuggling of fuel and tobacco. |
Newly elected Greek Prime Minister Alexis Tsipras is trying to balance satisfying the demands of creditors with meeting his pre-election pledges, say correspondents. | Newly elected Greek Prime Minister Alexis Tsipras is trying to balance satisfying the demands of creditors with meeting his pre-election pledges, say correspondents. |
Greece needs approval from international creditors to secure a four-month loan extension. | Greece needs approval from international creditors to secure a four-month loan extension. |
"In the Commission's view, this list is sufficiently comprehensive to be a valid starting point for a successful conclusion of the review," a source close to the European Commission told Reuters news agency. | "In the Commission's view, this list is sufficiently comprehensive to be a valid starting point for a successful conclusion of the review," a source close to the European Commission told Reuters news agency. |
Sticking points | Sticking points |
Drafts of the list will have been seen by European officials in Brussels as they were being drawn up over the weekend, says the BBC's Mark Lowen in Athens. | Drafts of the list will have been seen by European officials in Brussels as they were being drawn up over the weekend, says the BBC's Mark Lowen in Athens. |
But aspects of the plan that require new social spending may well be sticking points with creditors, he adds. | But aspects of the plan that require new social spending may well be sticking points with creditors, he adds. |
Ending primary home repossessions and providing free medical care and electricity for those who cannot pay may become bones of contention - while the eurozone may insist pension cuts and VAT rises should continue, our correspondent adds. | Ending primary home repossessions and providing free medical care and electricity for those who cannot pay may become bones of contention - while the eurozone may insist pension cuts and VAT rises should continue, our correspondent adds. |
Eurozone finance ministers are expected to discuss the proposals in a phone conference on Tuesday. | Eurozone finance ministers are expected to discuss the proposals in a phone conference on Tuesday. |
"Provided Greece avows its obligations and provided there is an agreement in the eurogroup [of finance ministers], the German government would be in favour of the proposed extension," German Finance Minister Wolfgang Schaeuble was quoted as saying. | "Provided Greece avows its obligations and provided there is an agreement in the eurogroup [of finance ministers], the German government would be in favour of the proposed extension," German Finance Minister Wolfgang Schaeuble was quoted as saying. |
Greek Finance Minister Yanis Varoufakis told CNN that the list of reforms was "very comprehensive". | Greek Finance Minister Yanis Varoufakis told CNN that the list of reforms was "very comprehensive". |
"This is a very exciting moment because we are getting to be the co-authors of our fate," Mr Varoufakis said. | "This is a very exciting moment because we are getting to be the co-authors of our fate," Mr Varoufakis said. |
"I can assure you that people on the street are elated by this return to dignity of a people, the Greek people, who for five years have been treated as a debt colony." | "I can assure you that people on the street are elated by this return to dignity of a people, the Greek people, who for five years have been treated as a debt colony." |
Greek economy in numbers | Greek economy in numbers |
Greek crisis deepens amid EU tension | Greek crisis deepens amid EU tension |
Greece bailout talks explained in 60 seconds | Greece bailout talks explained in 60 seconds |
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