FXStreet (Córdoba) – Greece submitted a new proposal to creditors on Tuesday, which is a 2-year bailout program with parallel restructuring of debt, according to Prime Minister Tsipras office.
This new program would be supplied by the European Stability Mechanism (ESM), which will fully cover country’s financing needs according to a PM office statement.
Greece said it remains at the negotiating table, and seeking “a viable solution, under the end, aimed at staying in the euro”. “Referendum isn’t the end of negotiations, but the beginning of talks under better terms for the Greek people”.
This proposal, which would not include the International Monetary Fund (IMF), has been sent to Brussels and latest reports suggest the Eurogroup will hold a conference call this evening.
The new proposal comes hours before Greece misses an IMF repayment of €1.6 billion along with the end of the second bailout program.
(Market News Provided by FXstreet)