Greece Sees Eurogroup Bailout Proposals as ‘Very Bad’

Athens sees the Eurogroup’s proposals on conditions for the new Greek bailout program as “very bad” and is looking for solutions, AFP reported citing a source in Greek government.

MOSCOW (Sputnik) — On Sunday, the Eurozone finance ministers discussed whether the Athens’ proposals on financial reforms are sufficient to start new round of talks on the Greek bailout.

"The text in its entirety is very bad. We are trying to find solutions."

The Eurogroup came up with a list of recommendations that the Eurozone leaders are currently considering at the meeting in Brussels.

According to the Eurogroup, in order to receive financial assistance from international lenders Greece must adopt pension reform and taxation laws by Wednesday, July 15.

In addition, the revenues from privatization of Greek assets worth 50 billion euros ($55 billion), meant for repayment of Athens' debt, must be transferred to a fund under Greek-EU management.

The Eurozone finance ministers also recommended the leaders of the European Union to propose Greece to temporarily exit the Eurozone in case the sides fail to reach agreement on the bailout program.