Details are emerging from the new Greek proposal that was submitted earlier. They are asking for a 3 year program instead of 2 years. This would provide a longer horizon for recovery. It also includes promises about tax reforms, pension reforms and improving the private sector.
Full details will be submitted only tomorrow, July 9th and this raises the tension and weighs on the euro.
Read the rest of the article Greece asks for 3 year plan that includes reforms – details only tomorrow – EUR/USD slides from highs