Greece says will receive funds once reforms are submitted to Eurogroup

By Reuters

Mar 20, 2015 10:54 AM EDT

Greece will receive much needed funding once it has submitted a detailed list of proposed reforms to the Eurogroup of euro zone finance ministers, its government spokesman said on Friday, as the country strives to avoid a cash crunch within weeks.

Greek Prime Minister Alexis Tsipras held late-night crisis talks in Brussels with senior European figures including German Chancellor Angela Merkel with Athens saying that it would soon present a full set of economic reforms to release funds.

"What was discussed was that once the reforms are submitted, and in a detailed manner, to the Eurogroup when that happens ... then the funding will be unlocked towards the Greek economy," spokesman Gabriel Sakellaridis said, adding that Athens intended to progress fast with implementing such proposals.

The cash-strapped country agreed an extension to its international bailout program on Feb. 20 but now needs to secure much needed aid, which has so far been frozen, in order to stave off bankruptcy.

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