Greece Debt Crisis Eurozone 'Backs Reform Plans'

Eurozone have approved reform proposals submitted by Greece in order to gain an extension of its bailout.

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  play Greek Finance Minister Varoufakis
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Eurozone finance ministers have approved reform proposals submitted by Greece in order to gain an extension of its bailout, officials say.

The Eurogroup said it had agreed to proceed with national procedures - parliamentary votes in several states to give the deal final approval.

The measures proposed by Greece include combating tax evasion and tackling the smuggling of fuel and tobacco.

The European Commission said earlier they were a "valid starting point".

Eurozone finance ministers - known as the Eurogroup - then held a conference call before giving their backing.

"We call on the Greek authorities to further develop and broaden the list of reform measures, based on the current arrangement, in close coordination with the institutions," the Eurogroup said in a statement.

Source: BBC

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