Greece submits proposed reforms in bid for loan extension

GREECE has submitted a list of reform proposals to its bailout creditors, the European Commission says.

The list was received “on time”, a spokesman tweeted.

The measures include combating tax evasion and tackling fuel and tobacco smuggling.

Greek Prime Minister Alexis Tsipras is trying to balance satisfying the demands of creditors with meeting his pre-election pledges, say correspondents.

Greece needs approval from international creditors to secure a four-month loan extension.

“In the Commission’s view, this list is sufficiently comprehensive to be a valid starting point for a successful conclusion of the review,” a source close to the European Commission told Reuters news agency.

Drafts of the list will have been seen by European officials in Brussels as they were being drawn up over the weekend, but aspects of the plan that require new social spending may well be sticking points with creditors, says the BBC’s Mark Lowen in Athens.

Ending home repossessions and providing free medical care and electricity for those who cannot pay may become bones of contention – while the eurozone may insist pension cuts and VAT rises should continue, our correspondent adds.