Eurozone studies new list of Greek reforms

The Greek government submits plan of reforms that it says will raise €3bn.

Eurozone finance ministers and Greece’s creditors are today (30 March) analysing a list of reforms submitted by Alexis Tsipras, the Greek prime minister, over the weekend.

The Greek government says the proposed reforms will raise €3 billion by combating tax evasion, raising taxes on alcohol and cigarettes, and privatising government agencies. A detailed list of reforms is required in order for Greece’s creditors– the European Commission, European Central Bank and International Monetary Fund – to release further funding. Greece could run out of money next month.

Greece had submitted a less-detailed list of reforms last month, but this was deemed too vague by its eurozone partners, particularly Germany. Impatience has been growing within the Eurogroup of finance ministers. Valdis Dombrovskis, the European Commission’s vice-president for the euro, told Die Welt magazine over the weekend that negotiations have “wasted too much time trying to sort out technical issues”.

The Greek government, led by the far-left party Syriza, has suggested it could ask Russia for financial help if none is available from the European Union. Tsipras is planning to visit Moscow next Sunday (8 April).

The Eurogroup may convene a working group to officially scrutinise the list of reforms on Wednesday (1 April).

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