Debt-ridden Greece has submitted a new proposal
to its international creditors,…offering deeper-than-expected economic reforms.
But according to our Han Dae-eun Athens is also asking for a new bailout package.
In a last-ditch effort to save itself from imminent financial collapse,… Greece has
offered to make painful spending cuts, pension reforms and raise taxes.
Eurozone officials say,… Greece proposed austerity measures between 12 to 13 billion
euros that will be carried out over the next two years.
The measures include,… raising taxes and VAT rates, phasing out solidarity grants
for pensioners by 2019, and cutting the defense budget by up to 300 million euros
by 2016. The proposal calls for 4 billion euros more
than the previous bailout terms voted down by the Greek referendum.
That may please the cash-strapped nation′s creditors, but Athens has also increased
its demands. Greece is requesting a new 53-point-5
billion euro bailout package and debt restructuring of some 320 billion euros.
Athens is planning to make more concessions than thought to prevent defaulting on its
upcoming set of repayments. However, difficulties are expected as Germany,
its biggest creditor nation, strongly opposes any kind of debt-restructuring. ″I have said that a classic haircut is out
of the question for me and that hasn′t changed between yesterday and today.″
Greece′s radical leftists will be another hurdle to overcome.
The hardline members of the Syriza party are expected to criticize the austerity measures
contained in the new proposal… when the Greek parliament votes on Friday.
Athens′ new offer will be discussed by the eurozone finance ministers on Saturday prior
to a full EU leaders′ summit slated for Sunday.
Han Da-eun, Arirang News.