Greece rejigs reforms as clock ticks

Greece is rushing to finalise details of the reforms it's willing to commit to as the deadline looms for its debt deal.

Greece is racing to finalise reform proposals that will keep its loan lifeline open under an EU debt deal that sees its anti-austerity ambitions curtailed.

European finance ministers on Friday gave Athens until Monday to present proposals that would convince its creditors to grant a four-month extension of its debt bailout.

A top government official on Sunday said Athens would submit proposals that will take the struggling Greek economy "out of sedation."

"We are compiling a list of measures to make the Greek civil service more effective and to combat tax evasion," minister of state Nikos Pappas told Mega channel.

The four-month extension is designed to enable Greece and its creditors to negotiate a new reform deal acceptable to both sides.

Greece's hard-left Syriza government is walking a tightrope between its commitments to European creditors and its electoral pledges to end austerity in a country struggling to recover from severe economic crisis.

The extent of the challenge became clear Sunday when one of Syriza's most respected members, 92-year-old wartime resistance hero Manolis Glezos, blasted the concessions made by the government.

"Calling a spade by another name does not change the situation," Glezos, who is a Syriza member of the European Parliament, wrote in a blog entry.

"I wish to apologise to the Greek people for taking part in this illusion," he said, calling on Syriza supporters to "react before it's too late."

"There can be no compromise... between a slave and a conqueror, the only solution is freedom," Glezos said.

Pappas, a close aide of Prime Minister Alexis Tsipras, said the talks would be "a daily battle... every centimetre of ground must be won with effort."

While many said Athens had capitulated to European demands in the deal on the four-month extension, Tsipras insisted Saturday Greece had achieved an "important negotiating success" which "cancels out austerity."

In a televised address, Tsipras said his government had foiled a plan by "blind conservative forces" in Greece and abroad to bankrupt the country at the end of the month, when its European bailout had been scheduled to expire.

But while fears of a disastrous Greek exit from the eurozone receded, the 40-year-old premier warned that the "real difficulties" lie ahead. He said his government would now focus on negotiating a new reform blueprint with Greece's creditors by June.


Share

3 min read

Published

Updated

Source: AAP



Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world