Greece submits reform plan to international creditors
Debt-ridden Greece has submitted a reform plan to international creditors, days after Athens rejected a proposal by the European Commission.
On Tuesday, an unnamed Greek official said the reform suggestions regarding its bailout program were sent to the European Commissioner for Economic and Financial Affairs, Taxation and Customs Pierre Moscovici.
The Greek official added that the documents presented to the creditors included alternative ideas on budget measures.
The European Commission also confirmed that it had received a plan from Greece.
"The three institutions [the European Union (EU), European Central Bank (ECB), and International Monetary Fund (IMF)] are currently assessing these suggestions with diligence and care," Commission spokesman Margaritis Schinas said.
Further details on the plan were not provided.
The submission of the reform plan comes as Greece needs to reach a deal on the repayment of some USD 330 billion it has received in bailout since 2009.
Earlier this week, President of the European Commission Jean-Claude Juncker criticized the Greek government for failing to submit an alternative plan after Greek Prime Minister Alexis Tsipras said the creditors' proposal was unrealistic and "absurd."
Greek Finance Minister Yanis Varoufakis also slammed the European demands as being “borderline insulting.” He added that a deal would only be reached if it included reforms, debt restructuring, and investment.
For months, Greece has been engaged in negotiations with its creditors aimed at unlocking the last €7.2 billion (USD 7.8 billion) tranche of its bailout deal.
Athens recently said it would bundle and pay four of its debt payments to the IMF by the end of the month, after it failed to meet a deadline on June 5.
SZH/HSN
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