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Greece and creditors reached a preliminary agreement on reforms

Greek authorities and international creditors - the EU and the IMF - have reached a preliminary agreement on key reforms in the sphere of labor legislation, social costs and energy. This was reported on Wednesday by Reuters, citing informed sources familiar with the situation in the bilateral negotiations.

The parties thus closer to the conclusion of a preliminary agreement on the eve of the meeting 7 April finance ministers of the eurozone countries. In accordance with the agreements in Greece reduce 2019 year pension costs to 1% of GDP, Reuters informed the two officials on condition of confidentiality. At the same time Athens have decided to lower the level of income, tax-free, up to € 6 thousand.

According to the Minister of Finance of Greece Evklidisa Tsakalotosa, proposed transaction will create the opportunity for decisive negotiations on medium-term debt relief, which will help the country return to the debt capital markets to fulfill debt obligations.

Greece is currently running third with 2010 year international program of macro-financial assistance, which keeps the country from defaulting. It was adopted in 2015, in exchange for the promise of the new reform of the pension system and the privatization of state property. The program of up to 86 billion euros participating countries in the eurozone, they act through the European Stability Mechanism (ESM).

A source: TASS

Tags: Greece, Economy, Reform, Credit, EU, IMF

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