Greek Reform Plan Nets Commission Nod
They get credit … for offering a solution. Athens met a midnight deadline for delivering a list of reform proposals to Brussels to secure a four-month bailout extension. The European Commission said today that the reforms are “sufficiently comprehensive” and approved the plan. It includes an overhaul to Greece’s tax collection system and crackdowns on tax evasion. Proposed social spending may cause hiccups, but a Greek default seems to have been averted. The markets have already signaled their enthusiasm.