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BRUSSELS – Greece and its international creditors are still struggling to agree on a list of economic reforms that are deemed necessary for the country to unlock emergency funds and stay afloat.
EU Commission spokesman Margaritis Schinas said Monday that despite continued work through the weekend, a deal on comprehensive reforms "requires a lot of technical work."
Greek Prime Minister Alexis Tsipras, elected in January, has been allowed to craft his own reform measures but only if the net effect is the same as that outlined in Greece's current bailout prescription. An agreement with creditors will unlock the next funds due from Greece's bailout.
Greece has relied on bailout funds for nearly five years. In return, successive Greek governments have had to impose tough austerity measures.