Bloomberg News

Greece Tables Bill on 2012-15 Structural Reforms to Parliament

January 12, 2012

Jan. 11 (Bloomberg) -- Greece’s finance ministry submitted an omnibus bill on implementing structural reforms for the period 2012 to 2015 as part of commitments made to secure a second international financing package.

“This bill contains extremely pressing matters, the vast majority of which are structural in nature and commitments by our country which must be completed before the new loan accord,” the ministry said in a release accompanying the bill and posted on the parliament website.

Officials of the European Commission, European Central Bank and International Monetary Fund, the so-called troika, start talks next week in Athens on a 130 billion-euro ($166 billion) second financing package for Greece agreed in Brussels last October. The deal includes a debt swap plan to reduce Greece’s debt to 120 percent of gross domestic product by 2020.

The bill, part of Greece’s 2012 to 2015 medium-term fiscal plan, is on reforms such as opening up professions, including those of taxi drivers and lawyers, overhauling state media and setting up a gambling market regulator.

A parliamentary committee is due to start debating the omnibus bill, which also includes operational details for the Hellenic Republic Asset Management Fund, on Jan. 12.

--Editors: Chris Peterson, Alan Purkiss

To contact the reporter on this story: Natalie Weeks in Athens at nweeks2@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net


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