Greece Submits Reform Proposals

Greece submitted a list of reform proposals to its creditors in seeking approval for an extension on its rescue loans, the European Commission said Tuesday. EC spokesman Margaritis Schinas tweeted that the proposals had been received on time. The eurozone finance ministers will now review the measures, which include tackling issues such as tax evasion and fuel and tobacco smuggling, Reuters reports. International creditors must accept the plan in order for Greece to secure a four-month loan extension on its $273 billion package that saved the country from the brink of bankruptcy in 2010. If the plan is rejected, Greece’s bailout program expires Feb. 28.