Greece Racing to Finalize Reforms and Remain in Euro

  09 July 2015    Read: 731
Greece Racing to Finalize Reforms and Remain in Euro
Greece`s government is racing to finalize a plan of reforms for its third bailout, hoping this time the proposal will meet with approval from its European partners and stave off a potentially catastrophic exit from Europe`s joint currency, the euro, within days.
Prime Minister Alexis Tsipras was meeting Thursday with finance ministry officials a day after the government requested a new three-year aid program from Europe`s bailout funds and promised to immediately enact reforms, including to taxes and pensions, in return.

Details of Greece`s reforms must be submitted by Friday morning, giving time for creditors to review them ahead of a summit of the European Union`s 28 members set for Sunday.

The last-minute negotiations come amid bank closures in Greece, where capital controls have been imposed.

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