Deadline day for Greek ‘last chance’ bailout plan

Greece was to submit a detailed bailout request to its EU partners in the eurozone Thursday in a last-ditch effort to save its collapsing economy and its membership in the European single currency.

 

Prime Minister Alexis Tsipras vowed on Wednesday that his country’s new plan asking for billions in euros would contain “concrete proposals, credible reforms, for a fair and viable solution”.

 

But other eurozone nations, led by Germany, are sceptical about Greece meeting austerity conditions attached to the loans, especially after Greeks in a referendum last weekend backed Tsipras’s past rejection of tough terms on its last bailout.

 

“This is really and truly the final wake-up call for Greece and for us, our last chance,” said EU President Donald Tusk on Wednesday.

 

Failure “may lead to the bankruptcy of Greece” and geopolitical problems for Europe, he said.

 

Leaders of the 28-nation European Union, including the 19 states that share the euro, are to hold a summit on Sunday billed as the “final deadline” for a deal.

 

Read More: Deadline day for Greek ‘last chance’ bailout plan – Business Insider