Government’s race with time for reforms

The government is in a race with time in order to meet the deadlines for the ratification of the reforms required for the disbursement of the second set of bailout loans.

Everything must be in place for the March 1 deadline, when the European Union summit begins in Brussels.

Now that the official offer for the swapping of Greek bonds was made on Friday, Athens still has to pass two crucial bills and issue a series of circulars and ministerial decisions.

They concern, among others, the abolition of the extension of validity of expired collective labor contracts, the lifting of the ban on civil servant layoffs, the end to experience bonuses on private contracts and the full application of the single salary system for all state workers.

On Friday Prime Minister Lucas Papademos said the legislative process is continuing at a satisfactory pace.