EU demands more reforms from Greece

(AGI) Athens, Mar 6 - The EU has told Greece that it mustimplement more reforms before it can receive more aid. Greecesent its Eurozone partners an updated list of proposed reformson Friday as it needs more funds after the European CentralBank refused to raise a limit on Athens three-month treasurybills which its banks buy with emergency central bank funds.ECB chairman Mario Draghi said on Thursday the EU treatyprohibited indirect monetary financing. Greek Premier AlexisTsipras told German magazine Der Spiegel: "The ECB has stillgot a rope around our neck. If it continues

(AGI) Athens, Mar 6 - The EU has told Greece that it mustimplement more reforms before it can receive more aid. Greecesent its Eurozone partners an updated list of proposed reformson Friday as it needs more funds after the European CentralBank refused to raise a limit on Athens three-month treasurybills which its banks buy with emergency central bank funds.ECB chairman Mario Draghi said on Thursday the EU treatyprohibited indirect monetary financing. Greek Premier AlexisTsipras told German magazine Der Spiegel: "The ECB has stillgot a rope around our neck. If it continues to object, it wouldbe assuming a grave responsibility ... Then it would be back tothe thriller we saw before Feb. 20." Greece agreed a four-monthextension of its bailout on Feb. 20 after long and difficulttalks. Greece has to repay 1.5 billion euros to theInternational Monetary Fund and three installments are due thismonth. Athens has made a 310 million euros partial repayment tothe IMF. Without more short-term debt, Greece will havedifficulty paying back loans covering its monthly bills ofabout 4.5 billion euros, including wages and pensions of 1.5billion euros. Brussels is not inclined to show much lenience:no new payments will be made before the international troika ofEU, IMF and ECB approves the Greek reform programme. FinanceMinister Yanis Varoufakis, in a letter to the Eurogroup onThursday, outlined plans to fight tax evasion, set up a "FiscalCouncil" to generate budget savings and update licensing ofgaming and lotteries to boost state revenues. These measuresshould generate revenue of around half a billion euros. Fundsto address the humanitarian crisis, continued a Greek source,amount to 200 million euros. The letter was expected to arriveon Friday, the day after the preparatory meeting for Monday'smeeting of Eurozone finance ministers.. .