Greece to submit reforms list today: Finance Minister

Greece will submit a list of reforms to be agreed with its creditors on Sunday, the country's finance minister has said.

PTI| Updated: Feb 22, 2015, 04:28 AM IST

Athens: Greece will submit a list of reforms to be agreed with its creditors on Sunday, the country's finance minister has said.

"We are in the process of compiling the list of reforms for the institutions," finance minister Yanis Varoufakis told reporters yesterday evening, following an inner cabinet meeting under prime minister Alexis Tsipras.

Following weeks of accusations and distrust, Greece and its creditors in the 19-nation eurozone reached an agreement Friday to extend the country's rescue loans, a move that should dramatically ease concerns it was heading for the euro exit as soon as next month.

The agreement means that Greece will avoid going bankrupt, at least over the four months of the extension. To get the money though, the Greek government has to present a series of unspecified economic reforms that are deemed acceptable by creditors and rooted in Greece's previously enacted bailout agreement something the government had promised not to do.

Varoufakis yesterday said the list of reforms would be submitted in good time, giving the creditors as much time as possible to assess it.

He added he is very confident that the list will be approved "the institutions" meaning the European Commission, the European Central Bank and the International Monetary Fund, previously collectively referred to as "the Troika."

Replacing the word "troika" with "institutions" in official communication about the negotiations was a semantic concession to the new government, which has been telling Greeks that they have got rid of the Troika. The term itself had been associated in the minds of Greeks with mid-level officials representing the three institutions visiting the country and bossing around ministers.

Varoufakis said Greece and the creditors will discuss the reform list via teleconference Monday. If the institutions approve it, talks for the completion of the existing bailout package will continue. If not, the eurozone's finance ministers will hold a new Eurogroup meeting Tuesday.

Earlier, Greek prime minister Alexis Tsipras hailed the "important success" of Greece's negotiations with its creditors, but warned that more difficult consultations lie ahead.