Saturday, February 21, 2015

Greece Races to Agree on Reforms

by Nektaria Stamouli

Wall Street Journal

February 21, 205

The Greek government began a race Saturday to agree on a list of economic reforms ahead of a review by its international creditors on Monday, after striking a tenuous agreement for a four-month extension of its bailout.

Prime Minister Alexis Tsipras called Friday’s deal an “important success,” but said negotiations with Greece’s creditors were now entering a more important stage.

“We won a battle, but not the war,” he said in a televised address. “The difficulties lie ahead of us.”

The bailout extension, which followed weeks of often harsh exchanges with other European governments, removes immediate concerns over a potential exit from Europe’s currency union, but sets the stage for further talks over Greece’s financial future.

The deal forced Greece’s new government to temper many of the antiausterity pledges it made in the run-up to last month’s election.


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