Greece has officially asked for a three-year loan facility from the European Stability Mechanism (ESM) and agreed to quick reforms, promising to present a new plan on July 9 at the latest.<\/p>\n
\u201cThe loan will be used to meet Greece\u2019s debt obligations and to ensure stability of the financial system,\u201d reads the letter sent by the new Greek finance minister.<\/p>\n
Greece proposed to immediately implement a set of measures starting from the beginning of the next week, such as tax reform related measures and pension related measures. It also promised action to further strengthen and modernize the country\u2019s economy.<\/p>\n
\u201cThe Greek government will on Thursday 9 July at the latest set out in detail its proposals for a comprehensive and specific reform agenda for assessment by the three institutions to be presented to the Eurogroup,\u201d the document added.<\/p>\n
The requested 3-year bailout package from the IMF is estimated to be over \u20ac51 billion, however there is no exact amount.<\/p>\n
On June 30 Greece asked for a 2-year bailout program hours before the deadline to repay \u20ac1.6 billion to the IMF expired. That request also included a debt restructuring plan, which the Eurogroup rejected that day.<\/p>\n","protected":false},"excerpt":{"rendered":"
Greece has officially asked for a three-year loan facility from the European Stability Mechanism (ESM) and agreed to quick reforms, promising to present a new plan on July 9 at the latest. \u201cThe loan will be used to meet Greece\u2019s debt obligations and to ensure stability of the financial system,\u201d reads the letter sent by … Continue reading “Greece asks for 3-year facility from EU, agrees to ‘quick reforms’”<\/span><\/a><\/p>\n","protected":false},"author":2961,"featured_media":19684,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49,3],"tags":[12076,12005,8,11689],"class_list":["post-19683","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-europe","category-news","tag-bail-out","tag-crisis","tag-greece","tag-grexit"],"cc_featured_image_caption":{"caption_text":false,"source_text":false,"source_url":false},"jetpack_featured_media_url":"https:\/\/praag.org\/wp-content\/uploads\/2015\/07\/Alexis_Tsipras_on_Subversive_Festival.jpg","_links":{"self":[{"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/posts\/19683","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/users\/2961"}],"replies":[{"embeddable":true,"href":"https:\/\/praag.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19683"}],"version-history":[{"count":1,"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/posts\/19683\/revisions"}],"predecessor-version":[{"id":19685,"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/posts\/19683\/revisions\/19685"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/media\/19684"}],"wp:attachment":[{"href":"https:\/\/praag.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/praag.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/praag.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}