Greek Government Submits New Proposal to Creditors in Attempt to Avert Default
Greece submitted on Tuesday a new proposal to its international creditors in a last-ditch attempt to prevent the country from defaulting on its IMF debt payment, which falls due later on Tuesday.
It still remains unclear how the creditors will respond to the latest proposal, which comes several hours before the deadline for making an IMF debt repayment amounting to EUR 1.6 B expires.
The Greek government announced that it made a proposal for a two-year deal with the European Stability Mechanism (ESM) to fully cover its financial needs and with parallel debt restructuring.
The government assured that Greece remained at the negotiating table and would always seek a “viable solution to stay in the euro”, Greek daily Kathimerini reported.
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