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Greek reform proposals greeted as ‘in line’ with eurozone’s wishlist

‘Valid starting point’, says European Commission official

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Greek Finance Minister Yanis Varoufakis (R) and German Finance Minister Wolfgang Schaeuble meeting earlier in February.

A list of proposals submitted by the Greek government on how to overhaul the country’s economy appears to be in line with the principles set out by eurozone finance ministers, a European Commission official said Tuesday, putting Athens one step closer to securing a four-month extension to its expiring bailout.

“In the commission’s view, this list is sufficiently comprehensive to be a valid starting point for a successful conclusion of the review, as called for by [eurozone finance ministers],” the official said. “We are notably encouraged by the strong commitment to combat tax evasion and corruption.”

“Further specification of the reforms is expected to be provided and agreed before the end of April,” the official added.

A letter from Greek Finance Minister Yanis Varoufakis was sent to Jeroen Dijsselbloem, the Dutch finance minister who presides over the talks among his eurozone counterparts, and the so-called troika of the commission, the ECB and the IMF shortly before midnight, three European officials said. That means Athens submitted the list in time, despite an announcement by the Greek government on Monday night that it wouldn’t send the measures until Tuesday morning.

An expanded version of this report appears on WSJ.com