To Prevent a Crisis, Greece Promises Reforms

During a March 19 summit of the European Council, Greek Prime Minister Alexis Tsipras promised that Athens would present a detailed list of economic reforms to its lenders in the coming days. Tsipras also will meet with German Chancellor Angela Merkel in Berlin on March 23. Athens is making these moves because it expects to receive the final tranche of its bailout program (some 7 billion euros, or $7.5 billion) as soon as possible, to cope with increasing liquidity problems and to avoid the danger of a run on Greek banks.