Written in Feb. 23, 2015
From Financial Times UK > World > Europe section

[Greece scrambles to send draft reforms to EU institutions]

The Greek government scrambled to come up with economic reform proposals to satisfy its international creditors in order to extend Athens’ EU bailout by another four months. A draft of the reform measures was submitted ahead of a formal evaluation on Monday by bailout monitors who will determine whether a tentative agreement to extend the €172bn rescue until June can proceed.

European markets reacted positively to the deal in trading on Monday, with Greece’s three-year borrowing costs falling 219 basis points to 14.44 per cent. Yields on the debt of eurozone peripheral governments also benefited, with 10-year Spanish and Portuguese yields falling 6 bps and 9 bps respectively.

Monday’s evaluation by the European Commission, European Central Bank and International Monetary Fund - previously known as the troika - was one of the most important conditions attached to Friday’s deal, which officials believe averted a Greek bank run and sovereign bankruptcy. If the EU and IMF do not approve of the Greek measures, eurozone officials have agreed that another Brussels meeting of finance ministers will be needed on Tuesday. Without approval, Greece’s EU bailout will expire on Saturday.

For more details, click the link below:
In eng: http://www.ft.com/intl/cms/s/0/eea3fdee-ba9e-11e4-945d-00144feab7de.html#axzz3SX4b59KP
In kor: http://vip.mk.co.kr/newSt/news/news_view.php?p_page=2&sCode=21&t_uid=20&c_uid=1253078&search=&topGubun