Greece agrees reform ‘starting point’

Greece committed itself to seven pages of reforms from streamlining tax and Vat systems to alleviating poverty through non-pecuniary measures such as food stamps.

The document, while accepted by the eurogroup as a ‘starting point’ to extend the austerity programme, was met with various degrees of scepticism by the IMF and the ECB.

What follows now is up to two months of fleshing out the commitments with detail of how they will be achieved, how much they will cost or save, and deadlines, but no timeline on paying out the remaining €7.3bn in assistance.