Greece sent the famous Reforms List to its creditors in Brussels on Tuesday morning, a couple of hours later than as originally demanded by the Eurogroup on February 20th. Finance Minister Yanis Varoufakis told CNN, that the list was ready Monday evening but that the lenders had requested a delay.
Short after the Greek e-mail was delivered to Brussels, the EU Commission sent a positive signal, saying “The list is sufficient as a first step for further negotiations.”
Also positive signals come from Germany, with Finance Minister Wolfgang Schaeuble to have reportedly asked German MPs to back Greece’s bailout extension. The voting in German Parliament is to take place on upcoming Friday.
The Euro Working Group will evaluate the list before it will be taken up the the Eurogroup Finance Ministers.
A Eurogroup meeting per teleconference is most likely to take part this afternoon.
the reform list has been compiled with the government being under immense pressure at home and abroad.
KTG’s Live Blog from Athens begins here and bring you latest updates but also some background information:
11:00 am
Athens Stock Exchange skyrocketed at the opening with 7%, half an hour later, is +5.51% at 901 units.
11:20 am
European Commission official: Greece reforms proposals are in line with the Eurogroup demands, Greek commitment to combat tax evasion and corruption is encouraging.
Greek reform proposals are in line with the demands set out by eurozone finance ministers http://t.co/uxOZ2CeYFb pic.twitter.com/GSn4X9gXki
— Wall Street Journal (@WSJ) February 24, 2015
11:32 am
Eurogroup head Jeroen Dijjselbloem is about to start briefing the European Parliament on Greece.
When asked by journalists on the Greek Reforms List, he refrained from giving an opinion and said ” list is being evaluated, we will know later.”
11:50 am
While the Eurozone partners take the reforms list under the magnifying glass, Prime Minister Alexis Tsipras is taking up the “front at home” after SYRIZA-MEP Manolis Glezos, 94, openly criticized the government for having abandoned the elections promises.
Also famous composer Mikis Theodorakis, 89, joined Glezos’ criticism, other MPs and party officials followed.
Tuesday morning, PM Tsipras visited Theodorakis at his home for a thorough briefing that lasted a little more than an hour.
11:56 am
In order to diffuse the crisis within the party, the Parliamentary Group and the political secretariat of SYRIZA were to meet today, but it looks as if both meetings will be postponed to later dates.
12:02
Some parts of the Greek reforms list have been leaked to the press.
12:08
The reforms list contains the commitments Greece has to fulfill after it asked extension of the program. The “Bridge-Program” ends end of April. A review by the country’s lenders IMF, EU and ECB will follow, a new program is supposed to follow.
Briefing the European Parliament today, Jeroen Dijsselbloem said:
#Dijsselbloem: 4 month ext to be followed by debt-sustainability analysis – based on that we could decide on further support for #Greece.
— Open Europe (@OpenEurope) February 24, 2015
12:14
Greek Reforms List incl Varoufakis’letter you can read HERE! Exclusive story by REUTERS.
12:22
Main points of the leaked Greek reform list:
Fiscal structural policies:
Tax policies, Public Finance Management, Modernization of tax and customs administration, control spending. social security reforms, combat corruption in Public Administration.
Measures to Financial stability:
Installments setting for tax and social security arrears
Banking and Non-Performing loans (“red loans”)
Policies to promote growth:
Privatisation and public asset management
Labor market reforms
Judicial system reforms
Confidence to statistics
Measures to address the Humanitarian Crisis
KTG understands that the Greek Reforms List is much more comprehensive and detailed than the leaked one.
#Greece crisis averted for now. Let's do something creative like Breath & Grow
— Keep Talking Greece (@keeptalkingGR) February 24, 2015
12:46
Eurogroup teleconference will be at 2 pm Brussels time (3 pm GR time)
#Eurogroup conference call on Greece at 14.00 this afternoon.
— Jeroen Dijsselbloem (@J_Dijsselbloem) February 24, 2015
12:50 pm
According to several media outlets Greece’ reform list landed in Dijsselblome’s mail box at 11:15 pm on Monday.
not that it really matters…
1:04 pm
As Dijsselbloem announced a Eurogroup Teleconference it is considered as certain that the eurozone finance ministers will approve the Greek reforms list.
Speaking at the European Parliament, Dijsselbloem justified the need for an extension saying:
#Dijsselbloem: Completing the 5th review at the end of Feb would have been too short timeframe for new govt' – hence more time for #Greece.
— Open Europe (@OpenEurope) February 24, 2015
1:06 pm
Athens Stock Exchange: +7.11% at 914 points.
Live-Blogging from Athens concludes here.
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