Today is the deadline for Greece to table its proposals for its latest bailout deal with the Troika.

The government was given three days to amend the terms and conditions of its loans, after Eurozone ministers agreed on Friday to extend the bailout for four months.

The deal removed the immediate risk of Greece running out of money next month and possibly being forced out of the single currency area.

Dr Stephen Kinsella - senior lecturer of economics at University of Limerick - says tax reforms are expected to ease the burden on the poorest people:

The extension agreement was clinched just a week before Greece's €240bn bailout expires, leaving just enough time for some member country parliaments to endorse it.

As part of the deal Greece must provide the list of economic and other reforms based on the current bailout programme by today.

This will be reviewed on Tuesday by the European Central Bank (ECB), the International Monetary Fund (IMF) and the European Commission.

If the three institutions do not believe the proposals go far enough, the list will be revised with a view to it being agreed by the end of April.

Greek Finance Minister Yanis Varoufakis said the deal would mark a new era for Athens and its relations with the European Union.

"Today was a pivotal moment because Greece for five years now has been lonely, isolated in the Eurogroup. Today that isolation has broken," Mr Varoufakis said after the extension was granted.