Greece gets to choose its own poison:
Feb 23 (WSJ) — Greece’s government pushed back until early Tuesday a list of awaited reforms that its eurozone partners had demanded in exchange for continuing to fund the country for another few months. Greek officials said late Monday that the list would be sent the following morning, past the original midnight deadline. Eurozone finance ministers are due to review the proposed reforms during a conference call Tuesday afternoon. “We are still expecting the list today, but if it comes at 6 a.m. tomorrow morning then that’s OK for us,” said a European Union official in Brussels. The important thing, the official added, was for the measures to comply with the terms of Greece’s bailout program and that the proposals arrive ahead of Tuesday afternoon’s teleconference.
By Holly Ellyatt
Feb 1 (CNBC) — Greece’s Finance Minister Yanis Varoufakis sent a list of reform proposals to the euro zone at around midnight on Monday, just making a deadline set by its international creditors.
A Greek government source confirmed that the reform measures were sent to the Eurogroup of euro zone finance ministers for approval. They will also need to be approved by the so-called “troika” overseeing the country’s bailout, made up of the International Monetary Fund, European Commission and European Central Bank.
A source close to the European Commission said they were “encouraged” by Greece’s “strong commitment” to combat tax evasion and corruption, Reuters reported. These were among the proposals according to a list released by the Greek government’s press office.
“In the Commission’s view, this list is sufficiently comprehensive to be a valid starting point for a successful conclusion of the review,” the source said, according to Reuters.
Other proposals included pledges to reform tax policy, consolidate pension funds and to eliminate incentives for early retirement. In addition, the proposals include plans to review and control public spending, and commitments not to roll back privatizations that have been completed.
Euro inflation even with the weak euro!