The Greek government has handed its international creditors a list of reform measures in a bid to finally release the vital bail-out funds it needs to avoid going bankrupt.

According to local media reports, the anti-austerity government is planning to raise €3bn in revenues from measures including raising levies on alcohol and cigarettes, clamping down on tax evasion, and continuing with a controversial series of privatisations.

Progress on completing the country’s bail-out programme – which was extended in principle for four months in February – has stalled as Athens has frustrated its creditors with its procrastination on implementing reforms.

The government is now hoping its creditors, who will mull over the measures over the weekend, will finally give their assent to release the €7.2bn funds the government desperately needs to stay afloat.

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