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  HOME | Business & Economy (Click here for more)

Greece Submits New List of Reforms Looking to Raise $6.5 Billion in 2015

LONDON – The Greek government under Alexis Tsipras has submitted to the European Union a new list of reforms that aims to raise 6 billion euros ($6.53 billion) this year, reported the Financial Times on Thursday.

According to the British newspaper, the Hellenic government submitted the document on Wednesday to the European authorities, but sources have indicated that the proposals are insufficient to guarantee the country’s anticipated 7.2 billion euros ($7.83 billion) installment of bailout funds.

The 26-page proposal is based on measures to protect against tax evasion and fraud to raise the most revenue.

Specifically, it includes raising 875 million euros ($951.6 million) from bank audits transfers from tax havens, and 600 million euros ($652.5 million) from a new program aimed at convincing consumers to ask for value added tax receipts.

According to the newspaper, the new reforms seem to elude key aspects pointed out by European partners, such as pension reform and liberalization of the labor market, however it will reverse some measures imposed by the previous government.

 

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