AP. Greece finally meet an important deadline on Thursday and made a series of proposals needed to creditors by midnight. The government ordered 53,500 million euros (59,000 million) as part of a new rescue package, according to a bill submitted to parliament.
The leftist government of Greece has sent its creditors eurozone’s proposal for a new austerity package. The government said the Greek parliament vote on the proposals on Friday before Sunday’s emergency summit between European leaders.
The package addresses the demands of creditors on sales tax increases and cuts to state pensions they had resisted the Greek left-leaning government.
The proposals raised hopes that Greece can get the bailout deal that would prevent the country from having a catastrophic exit from the eurozone. After months of delays despite the chaos to come, the Greek Prime Minister Alexis Tsipras sent proposals to international creditors on Thursday night.
Although creditors are now evaluating whether Greece will offer the full range of economic measures that they have requested, Donald Tusk, who chairs meetings of EU officials indicated that the European authorities will make an effort to meet the request of the Greek government to receive debt relief.
Greece has long argued that its debt is too high to be paid and that the country requires some remission. The International Monetary Fund agrees with this approach, but influential European nations like Germany have resisted the idea.
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