Greek gov't drafting multi-bill after overhauling negotiating team

The government on Monday announced a shake-up of the team negotiating with the country?s international creditors, after Finance Minister Yanis Varoufakis came under fierce criticism from his eurozone peers at a summit in Riga last week due to a lack of progress. Authorities also heralded a multi-bill that is to feature a batch of reforms that the government hopes it can pass through Parliament to secure the release of much-needed rescue loans.

The overhaul was announced by the office of Prime Minister Alexis Tsipras who, it appears, is keen to speed up the pace of negotiations with creditors as Greek coffers run low. Tsipras agreed with German Chancellor Angela Merkel, in a phone conversation late on Sunday, to speak more regularly over the coming days in a bid to reach a deal. The shake-up involves the creation of a new ?political negotiation team? which is to be ?coordinated? by Alternate Foreign Minister Euclid Tsakalotos under Varoufakis?s leadership. The move was widely seen as an attempt to sideline Varoufakis, who came under heavy criticism in Riga by his eurozone peers last week. But Tsipras?s office stressed that Varoufakis enjoyed the government?s full support and that the minister had been ?systematically targeted by the international press.?

The response from abroad was mixed, with some appearing confused about the practical impact of the overhaul while others appeared to welcome the change.

The overhaul also foresees the Finance Ministry?s general secretary, Nikos Theoharakis, who has been leading talks with the so-called Brussels Group, undertaking the drafting of a growth strategy to form the basis of a new deal with creditors in June. Giorgos Houliarakis, who has been involved in negotiations, is to take over from...