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> Economy

Read FinMin Varoufakis' new list of reforms to Eurogroup

According to a European official

Newsroom March 6 12:13

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A new list of reforms was sent to Eurogroup partners on Friday morning by Greek Finance Minister Yanis Varoufakis, according to sources.

Specifically, a European official said the Eugrogroup received today (Friday) a new letter by Varoufakis containing the measures proposed by the Greek government for a meeting of eurozone FinMins, scheduled for Monday. Submission of a list of reforms by the new leftist government is an obligation accepted by Athens in order to gain a four-month extension of a loan agreement.

The seven proposed measures included in Varoufakis’ new list are:

1. Activation of a Fiscal Council in order to expand its mission.

2. Reforms for the better preparation of the budget and relevant legislation

3. Creation of a flexible body to carry out targeted tax checks and audits, in order to fight tax evasion.

4. Improvements in legislation for the settlement of outstanding debts to the state

5. Regulation of the legal framework for online gambling

6. Reduction of bureaucracy and improvement of the business environment

7. Measures to address what the SYRIZA government calls the “humanitarian crisis”

Read the full Varoufakis’ letter here

However, according to Financial Times journalist Peter Spiegel, Varoufakis’ new letter to Eurogroup head Jeroen Dijsselbloem was not received until after the latest Euro-working group meeting, and, therefore, it has not been assessed yet ahead of Monday’s meeting.

The top financial reporter also notes, citing official sources, that the Eurogroup is not in a position to discuss Varoufakis’ measures if they have not previously been discussed by ECB, EC and IMF, now known collectively as the “institutions”.

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