Mar 21, 2016 10:35 AM EDT

Euro Zone Lenders Wants Progress On Tax And Pension Reforms But Greece Needs to Help?

European Zone lenders have affirmed their desire to strengthen and empower Greece regarding its tax and pension reforms. It has further been noted that the sector calls for the nation to act and adopt the new system to ensure the nation's stability and attain success for all of its undertakings.

The nation that battled much economic downfall is finally on the verge of recovery. To prove the latter, Euronews cited the statement rendered forth by the European Commission spokesperson, "The mission made significant progress on key aspects of the pension reform. Work is underway and will continue over the Easter break. The mission chiefs will return to Athens on April 2 to resume the discussions with a view to conclude them as soon as possible."

Even the Greek Prime Minister Alexis Tsipras is willing to confer with implementation and have the reform review be done with. It goes without saying that Prime Minister Tsipras seeks liberation from debt, from instability and aims on restoring the confidence of the nation. He also aims on encouraging the nation to not lose hope and trust in the promise that hard work and sacrifices do pay off.

However, despite the endeavors of Greek Prime Minister Tsipras, the European Commission Vice President Valdis Dombrovskis said "There's still a huge amount to do". Indeed, it appears that the vice president's words had some truth to it. According to a post from Fortune, "The talks have dragged on for months due to disagreements over fiscal targets, pension cuts and tax reforms between Athens and its European Union and IMF lenders and among the EU and IMF institutions themselves."

It appears that a collaborative effort is required by the varying sectors to attain full achievement of their goals and plans. Both sectors need to assess each implementation and boost the tax revenues of the region as well as enforce tax and pension reforms to mitigate the rising economic downturn.

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