Friday, March 27, 2015

UPDATE 2-Greece extends its reform plans in Brussels – Challenges.fr

(Updated with details of the reforms)

Renee Maltezou

ATHENS, March 27 (Reuters) – Greece submitted Friday to its creditors meeting within the ” Brussels group “a detailed list of reforms designed to secure a small primary budget surplus this year, hoping to unlock new funding, said the Greek government officials

These creditors -. the European Union (EU) and the International Monetary Fund (IMF) – were to begin consideration of the Friday night program of reforms, an official of the euro area, while a senior Greek official rather speak Saturday.

Their approval and the finance ministers of the eurozone, meeting within the Eurogroup, are necessary for Greece to receive additional funds to avoid default on its debt, which could possibly lead to its exit from the euro zone.

Friday presented list includes measures that should allow to increase state revenues of three billion euros this year.

“The measures proposed in the list of reforms include recipes for three billion euros in 2015, which will by no means the product of a salary reduction or retreats,” said a Greek official. “The list does not include a recession-related measures.”

The list also mentions a primary budget surplus (that is to say, excluding debt service) of 1.5% Gross Domestic Product (GDP) in 2015, less than half the objective set out in the bailout package from the EU and IMF, and growth of 1.4%.

The new Greek government who promised before his election victory on January 25 to turn his back to the austerity policies implemented in exchange for international aid, has already introduced last month a first list of reforms which hardly meets creditors of the country.

Varoufakis HIS SILENCE SORT

This seven-point program addressed issues ranging from tax evasion to the reorganization of the public sector but it seemed too imprecise to its recipients.

The government of Alexis Tsipras assured that the new list would include measures to strengthen the confidence of investors, to inflate revenue and reform the judicial system, but without providing details.

The detailed program should also address the functioning of the pension system, although Athens has already ruled out a retirement age of delay or other measures likely to be interpreted as an effort Additional demanded a population already sorely tested by the policies followed since the beginning of the crisis in 2010.

The government should also seek to fight against undeclared work and commit not to interfere privatization. In the first days after coming to power, the left party Syriza announced the discontinuation of certain privatizations but has since retracted his projects, even if he still has control over the companies after their assignment the private sector.

Athens must prove to its creditors its dual commitment to implement the reforms demanded and control its budget. Publicly, the tone has subsided between the new Greek government and its partners Eurogroup after several weeks of acrimonious exchanges, especially with Germany.

The Greek government also denied Friday an article in the German Bild that the Minister of Finance, Yanis Varoufakis, considering resigning

The latter, which seemed to keep a low profile in recent days, denied his side through Twitter. ” Whenever negotiations accelerate, a new rumor stating my resignation, my dismissal, etc., arises Quite funny “

(with Lefteris Papadimas;.!. Bertrand Boucey and Wilfrid Exbrayat for French service, edited by Marc Angrand)

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