Greece has handed in its list of reforms to the European Commission right On time. A spokesperson for the Commission confirmed this on twitter, saying that Athens did not miss the deadline given, and that European Union received this as at when due.


The proposed financial reformation plan involves dealing with tax evasion, putting the civil service on track and measures to curb the smuggling of tobacco and fuel.


Alexis Tsipras who just stepped into office as the Prime Minister of Greece has a lot to deal with at the moment. He is standing between his people that have been battered by austerity and on the other hand are the European lenders – striking the right balance between these are his paramount goals.


As the list has been submitted, it will be evaluated by the International Monetary Fund (IMF), the European Central Bank (ECB), and the European Commission. Greeks trio creditors will scrutinize all the reforms presented before the Eurozone Finance ministers meeting. If this list of reforms are accepted, then Greece will get the most needed debt bailout extension for four months.


The positive statement made by Jeroen Dijsselbloem, the president of the Eurogroup might indicate that Greeks reforms will be accepted and the loan extension granted. He said that Greek was very serious to meet up to its reformation policies and that it has displayed an “unequivocal commitment to honour its financial obligations”. However, Jeroen Dijsselbloem pointed out the fact that it was important for Greece to regain the trust of its European lenders, after now.


Yanis Varoufakis, the finance minister of Greece was elated about the comprehensive list of reforms the country has presented. In his interview with CNN he said – “This is a very exciting moment because we are getting to be the co-authors of our fate. I can assure you that people on the street are elated by this return to dignity of a people, the Greek people, who for five years have been treated as a debt colony.”


The Athens are waiting eagerly for the outcome of its creditors talks later on Tuesday where the International Monetary Fund, European Commission and the European Central Bank will decide on the credibility of the submitted list of reforms.