Greece given 6 days to offer reform plan: Reports

Reports say Greece has been offered six working days to draw up a revised economic reform plan aimed at securing a deal on its next rescue bailout.

According to the Greek daily Kathimerini, eurozone technical staff have given Athens the moratorium ahead of an April 24 meeting of EU finance ministers in Riga, Latvia.

“The next step will be the Eurogroup of April 24,” European Commission spokesman Margaritis Schinas said, adding, “Everything that happens before that will be greatly welcomed.”

The state-run BBC also quoted an EU official as saying, “If you take into account weekends and Orthodox Easter, there are only six days left.”

The Greek government met Thursday’s deadline to repay a EUR-450-million (USD-483-million) loan installment to the International Monetary Fund (IMF).

Officials have, meanwhile, warned that state coffers could soon run dry as the country will struggle to pay back EUR 420 million to international investors on April 14 and another EUR 950 million in loan installments to the IMF in May.

Greek authorities are working against the clock to reach an agreement with international creditors over the terms of the bailout. The lifeline foresees an additional EUR-3.7-billion in state revenues this year.

Greece’s debt stems from the EUR-240-billion bailout loan it received from the so-called troika of international lenders -- the European Central Bank, the IMF and the European Commission -- to prevent bankruptcy in 2010.

A failure to reach a final deal by the end of April could push Greece into bankruptcy and out of the eurozone.

HN/MKA/HMV

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