Greece to present reforms draft to creditors for bailout

GREECE said it would discuss with its creditors today a draft bill of reforms it hopes will earn their approval and pave the way for the unlocking of vitally needed bailout funds.

The draft bill is expected to include measures proposed by Finance Minister Yanis Varou- fakis during the negotiations with creditors, which have dragged on for more than three months and raised concerns the country might not get the loans in time to avoid a debt default.

The bill will be discussed with representatives of the International Monetary Fund, European Central Bank and European Commission, dubbed the Brussels Group, at a meeting in the Belgian capital today, two government officials said.

“The aim of the negotiation at all levels is the achievement of a mutually beneficial agreement,” one official said.

“The Greek government is optimistic that this will be achieved soon.”

Deputy Prime Minister Yannis Dragasakis said he believed the two sides would reach at least an interim agreement. “Today we are seeking a solution. But ‘any solution’ is not good enough. It must be a viable solution,” he said.

Prime Minister Alexis Tsipras said he expects a deal to be reached by 9 May , in time for the next finance ministers’ meeting on 11 May.

The contents of the bill have not been announced, but are expected to include reforms to some tax measures.

Athens hopes they will be sufficient for creditors to approve the disbursement of the final €7.2 billion installment from its €240 billion bailout.