Following a principle agreement clinched last Friday between Athens and its eurozone creditors, Varoufakis sent to Brussels a list with structural reforms the new government pledged to implement in order to finalize the Feb. 20 deal for a four-month extension of the four-year bailout to June.
The extension will bridge the bailout arrangement which expires on Feb. 28 with a new final deal on the resolution of the debt crisis through a new debt relief the left-led, anti-bailout new administration will negotiate in coming months.
Officials said that the Greek side's strategy to make a distinction between the wider context of the loan agreement and the bailout's memorandum which included precise targets undertaken by previous governments "was successful."
The next major goal for Athens now, according to the sources, was to immediately launch a dialogue with creditors on the financing gap until April.
The Greek side, they said, will propose the increase of the ceiling for the issuance of Greek treasury bills and the return of the 1.9 billion euros (US$2.2 billion) in profits from Greek bond holdings owned by the European Central Bank.
By Ruchi Singh
reporter
Park Sae-jin
swatchsjp@ajunews.com
