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Greece Must Reportedly Adopt 48 Prior Actions for Release of More Bailout Funds

eurogroup-genikiGreece will have to adopt almost 50 policy, economic and legislative reforms and measures if it is to collect more money from the 86 billion euro Greek bailout.
Naftermporiki newspaper cites a European official who claims there are 48 prior actions that the Greek parliament must ratify by October 15 to secure a 2 billion euro disbursement from the bailout. The list was reportedly agreed on during Friday’s Euro Working Group.
These 48 prior actions include changes across the board. the finalization of pending sales of state assets, changes in taxation including amendments in the punishment for tax evasion, the new Civil Procedure Code and new legislation on early retirements in the public sector.
The list further prescribes the adoption of the OECD’s second toolkit, the completion of the Greek peripheral airports sale, the creation of a scheme for increasing use of electronic transactions and decreasing of use of cash among other measures.
These prior actions are expected to be presented to the Eurozone’s Finance Minister’s during Monday’s Eurogroup. A confidence vote for the new Greek government will be held on Wednesday. The Greek parliament will consequently have to adopt these new reforms and measures within one week.

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