Greece Submits Reform Plan to Lenders - European Commission

European Commission received the list of reform measures of Greek government before deadline. This list is needed for Greece to secure secure a four-month bailout extension.

MOSCOW (Sputnik) — The Greek government on Tuesday submitted a list of reforms to be carried out in exchange for approval by its international creditors to secure a four-month bailout extension, European Commission’s spokesman, Margaritis Schinas said.

The list reached Brussels before the deadline set to expire on Monday.

"List of reform measures of Greek government received on time", Schinas wrote on his Twitter page.

List of reform measures of Greek government received on time.

— Margaritis Schinas (@MargSchinas) February 24, 2015

The reform plan will be assessed by the Eurozone finance ministers on a conference call later on Tuesday, the media reported earlier, with reference to a source in the Greek government.

According to the source, the list consists of reforms outlined in Prime Minister Alexis Tsipras’ program statement last year. It will also address what Tsipras calls Greece's "humanitarian crisis," end the foreclosure of primary homes, while fighting tax evasion, fuel and tobacco smuggling and tackling corruption.

The deadline for Greece's bailout program, overseen by the so-called troika of international money lenders — the European Commission, the International Monetary Fund and the European Central Bank — expires on February 28. Without an extension or restructuring of its debt, Greece risks going bankrupt and may even be forced out of the Eurozone.

Alexis Tsipras formed a new Greek government after his leftist Syriza party won the country's general election in January. The new government said it does not want to follow the austerity measures, initiated by the previous government under pressure from the troika, rejects the troika's terms and is seeking to renegotiate its overwhelming debt.