Greece to present reforms to finalize loan extension

Staff Writer
Columbus CEO

ATHENS, Greece (AP) — Greece is due to submit a list of proposed reforms to its debt inspectors by Monday night to get final approval for an extension to its rescue loans.

The government and its creditors agreed Friday to extend the country's rescue loans by four months. In return, Greece would have to commit to a series of budget measures meant to keep a lid on debts and improve the economy.

Greece will have some leeway in deciding what those measures are, but will need approval from the European executive Commission, the European Central Bank and the International Monetary Fund. Upon receiving the proposed reforms on Monday, those three institutions will decide by Tuesday whether they are enough.

Greece's European bailout ends after Feb. 28 so it needs a finalized deal this week.