18:53 GMT23 January 2021
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    The European Central Bank President said that the list of measures submitted by the Greek authorities is comprehensive.

    MOSCOW (Sputnik) — The list of measures submitted by the Greek authorities is comprehensive and may become a starting point for the successful conclusion of the country's bailout program review, The European Central Bank (ECB) President Mario Draghi said in a letter to Eurogroup Tuesday.

    "Our initial impression is that the document covers a wide range of reform areas and in this sense, it is sufficiently comprehensive to be a valid starting point for a successful conclusion of the review," the letter said.

    However, Draghi said that the Greek authorities failed to elaborate on concrete proposals and commitments due to the short amount of time available.

    Valdis Dombrovskis, European Commission (EC) vice president for the Euro and Social Dialogue
    Draghi outlined that the Greek government's proposals differ from existing commitments and thus require further review.

    Draghi also said that "the basis for concluding the current review, and also for any future arrangements, will be the existing commitments in the current Memorandum of Understanding and the Memorandum of Economic and Financial Policies (MEFP)".

    After Athens and Eurozone finance ministers reached an agreement to extend Greece's bailout for four months earlier in the month, Greece promised to present a list of reforms on February 23.

    Greece's debt to the troika of creditors comprising the European Union, the European Central Bank and the International Monetary Fund stands at about $270 billion, accumulated due to Greece's sovereign debt crisis.


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