Eurozone receives new proposal from Greece


Athens: The Greek government has submitted economic reform proposals for further bailout from its creditors, eurozone officials say. They say they received the plan late on Thursday – just two hours before a midnight deadline. Now study it ahead of EU meetings at the weekend. According to Greek media,the measures include tax rises, pension reforms, privatisation and spending cuts. Greece needs a third bailout to avoid a default and a possible euro exit. But on last Sunday, in mass vote the majority of people in Greece voted against euro zone.

Jeroen Dijsselbloem, the head of the 19-member eurozone group of finance ministers, confirmed that he had received the Greek proposals. Earlier, Greek Prime Minister Alexis Tsipras spent the day seeking agreement on the reforms from his government partners. On Friday, the Greek parliament will vote on Mr Tsipras’ proposals. The plan will be then considered by eurozone finance ministers on Saturday, and by EU leaders at a summit in Brussels on Sunday.