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Greece, lenders agree on new set of reforms for more aid

Greece, lenders agree on new set of reforms for more aid
November 27, 2015
ATHENS - Greece and its international lenders have agreed on a new set of measures the country must approve by next month to qualify for more aid and to pave the way for a first review of progress under its third bailout, a Greek newspaper reported on Friday. Athens has already legislated a first set of reforms to secure 25 billion euros (18 billion pounds) from the euro zone's ESM rescue fund, a sum that is part of its 86 billion euro bailout agreed this summer. The euro zone group of deputy finance ministers known as the Euro Working Group, of which Greece is also a member, on Thursday approved a new list of 13 measures Athens must vote into law by Dec. 11 to receive a 1 billion euro aid tranche next month, newspaper Kathimerini said. Greece will have to set up an independent general secretariat for state revenues, take steps to privatise its power grid operator or propose alternative plans to boost competition and set up a task force to prepare a new privatisation fund, the paper said. The next big test for the leftwing government of Prime Minister Alexis Tsipras will be a comprehensive pension reform that Athens has promised to submit by December. The government's majority has shrunk to just three seats, and Tsipras will seek the support of opposition parties for a broad consensus on tough pension reforms. -Reuters