Greece is expected Tuesday to present proposed economic reforms to its European creditors, as part of a deal to extend its massive bailout for four months.
The debt-riddled country on Monday slid past a deadline imposed by European finance ministers to present proposals that would convince the country’s creditors to grant the four-month extension.
The 19 European finance ministers in the euro currency bloc are planning to consider the Greek plan Tuesday.
The proposals are aimed at reviving the country’s faltering economy and cutting government spending in exchange for renewing the more than $270 billion in loans that are set to expire this week. Greece has some voice in setting the reforms it wants to make in order to keep its bailout, but the terms must be approved by its European lenders, the European Central Bank and the International Monetary Fund.
The minister of state in the new leftist Greek government, Nikos Pappas, said Sunday officials are working to make the government’s civil service “more effective and to combat tax evasion.”
But new Greek Prime Minister Alexis Tsipras is facing some criticism over the bailout extension pact because he pledged as head of the Syriza party in January’s election campaign to end the loan program and the austerity measures imposed by the lenders. Tsipras said the four-month extension will give Greek officials more time to negotiate with the creditors while keeping the country in the eurozone.
But one of Syriza’s most respected members, 92-year-old World War II resistance hero Manolis Glezos, attacked the concessions the new government’s leaders made and said he is apologizing to the Greek people for “this illusion” that the austerity measures are ending.
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