Thursday, March 26, 2015

Greece Hurries to Hammer Out Policies to Satisfy Creditors

by Nektaria Stamouli and Viktoria Dendrinou

Wall Street Journal

March 26, 2015

Greece is hurrying to compile a list of economic overhauls that satisfies its creditors and secures desperately need bailout aid, as it runs increasingly low on cash and debt payments loom.

Key officials in Greece’s new government, led by the leftist Syriza party, were hunkered down in meetings Thursday to flesh out new economic policies with the aim of submitting a list of overhauls by Monday at the latest, senior officials said. Greece hopes that eurozone finance ministers can meet and approve the country’s overhaul program as early as next Wednesday.

However, officials from Greece’s European creditor countries said the economic plans would first need a positive response from technocrats representing European institutions and the International Monetary Fund.

Greece has accelerated its efforts on the overhaul plans in recent days after German Chancellor Angela Merkel worked hard to convince Greek Prime Minister Alexis Tsipras in Berlin on Monday that there is only one way for Athens to secure the financing it needs: substantive economic overhauls.


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