Date
13 December 2017
A woman holds EU and Greek flags during a pro-European Union rally in Athens on July 9. The Greek government has drafted a new proposal it hopes will convince creditors to let the country stay in the euro. Photo: Bloomberg
A woman holds EU and Greek flags during a pro-European Union rally in Athens on July 9. The Greek government has drafted a new proposal it hopes will convince creditors to let the country stay in the euro. Photo: Bloomberg

Greece sends new reform proposals to EU

Greece has forwarded a new package of reform proposals to its eurozone creditors on Thursday in a bid to win new funds and avert bankruptcy, Reuters reported.

The leftist government in Athens will seek a parliamentary vote on Friday to endorse immediate actions, it said.

Prime Minister Alexis Tsipras and his cabinet colleagues drafted a last-ditch package of tax rises, pension reforms and economic liberalization measures, which the government hopes will convince creditors to let the country remain in the eurozone.

A Greek official was quoted as saying that lawmakers will be asked to authorize the government to negotiate a list of “prior actions” it would take before any fresh aid funds are disbursed.

Greek banks have been closed since June 29, when capital controls were imposed and cash withdrawals rationed after the collapse of previous bailout talks.

Athens defaulted on an IMF loan repayment the following day and now faces a critical July 20 bond redemption to the ECB, which it cannot make without aid.

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