Deadline for Greece bailout plan

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Published: Monday 23rd February 2015 by The News Editor

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Greece is due to submit a list of proposed reforms to its debt inspectors by tonight to get final approval for an extension to its rescue loans.

The government and its creditors agreed on Friday to extend the country’s rescue loans by four months.

In return, Greece would have to commit to a series of budget measures meant to keep a lid on debts and improve the economy.

Greece will have some leeway in deciding what those measures are, but will need approval from the European executive Commission, the European Central Bank and the International Monetary Fund.

Upon receiving the proposed reforms, those three institutions will decide by Tuesday whether they are enough.

Greece’s European bailout ends after February 28 so it needs a finalised deal this week.

Published: Monday 23rd February 2015 by The News Editor

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