23 February 2015
Last updated at 04:46
Greece’s list of reforms must be approved before eurozone members ratify a bailout extension on Tuesday
Greece is preparing to present a list of reforms to lenders in order to secure a bailout extension.
Under Friday’s deal, the list must be approved by international creditors to secure the four-month loan extension.
Analysts say a collapse of the deal would revive fears of a Greek exit from the euro.
Minister of state Nikos Pappas has said the list will include measures to tackle tax evasion and streamline the civil service.
He told Greece’s Mega Channel on Sunday that reforms would take the Greek economy “out of sedation”.
Germany’s Bild daily newspaper, citing sources close to the Greek government, reports that Greece aims to recover 7.3bn euros with measures to combat tax evasion.
German Foreign Minister Frank-Walter Steinmeier told Bild that the extension agreement reached on Friday with European finance ministers had given the region “some breathing space, nothing more”.
“Now it’s up to Athens,” he added.
Greece’s list of reforms must be approved before eurozone members ratify a bailout extension on Tuesday.
‘Long road ahead’
Greek Finance Minister Yanis Varoufakis has said that “the agreement is dead” if the list of reforms are not agreed.
The BBC’s Mark Lowen in Athens says that although the Greek government may suggest reforms to tackle tax evasion, re-employ sacked civil servants and increase social spending, in reality it will be forced to adhere to many of the austerity demands of the original bailout.
The new Greek government, led by Prime Minister Alexis Tspiras, was elected by promising to reverse austerity
On Friday, German Finance Minister Wolfgang Schaeuble stressed that there would be no payment of new funds to Greece until the conditions of the deal had been met.
The four-month extension deal is widely regarded as a major climb down for Prime Minister Alexis Tspiras, who won power vowing to reverse budget cuts.
On Saturday Greek Mr Tspiras said in a televised address that his government had “won a battle, not the war”.
He called the deal an “important negotiating success” but warned that there was a “long and difficult road ahead”.
Greek economy in numbers
- Unemployment is at 25%, with youth unemployment almost 50% (corresponding eurozone averages: 11.4% and 23%)
- Economy has shrunk by 25% since the start of the eurozone crisis
- Country’s debt is 175% of GDP
- Borrowed €240bn (£188bn) from the EU, the ECB and the IMF
Greek crisis deepens amid EU tension