Greece faces tough sell to creditors to get loan payout

Staff Writer
Columbus CEO

BRUSSELS (AP) — Greece will try to convince eurozone creditors on Monday that its proposed economic reforms are enough for them to release funds from its rescue loans.

The country got an extension on its European bailout last month but creditor states want to approve its detailed list of reforms before they pay out any money.

Greek Finance Minister Yanis Varoufakis said over the weekend that if the creditors do not eventually approve the reforms, his government could call new elections or a referendum. The government later clarified any referendum would be on the content of reforms and fiscal policy.

Greece faces a cash crunch within weeks, and is under pressure to get some positive signals from the other 18 euro finance ministers meeting in Brussels.