Berlin - Greece's new leftist-led government climbed down further to eurozone creditors on its plans to halt privatisations, boost welfare and raise the minimum wage as markets rallied on the prospect of a four-month extension of its financial rescue.
A letter sent to Eurogroup chairperson Jeroen Dijsselbloem late on Monday set out in broad terms the measures Athens plans to implement by July, offering assurances it will not deviate from fiscal targets or roll back past reforms.
Crucially, it pledged not to reverse any ongoing or completed privatisations, and to ensure that the fight against what the government calls the country's humanitarian crisis "has no negative fiscal effects".