Greece to present loan proposal

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Published: Wednesday 18th February 2015 by The News Editor

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Greece’s government will today present its creditors with an official proposal aimed at saving bailout talks from collapse.

The plan will involve extending the international loan agreement that has kept Greece afloat since it nearly went bankrupt in 2010, government spokesman Gavriil Sakellaridis said.

The new radical left-led government in Athens has so far refused to accept any extension of the bailout deals that set the strict terms under which the loans were issued.

Deep spending cuts and income reductions have deepened an economic depression and sent unemployment levels above 25%.

It is unclear how the proposal would be met by creditors, who have given Greece until the end of the week to request an extension of the current bailout agreement.

Published: Wednesday 18th February 2015 by The News Editor

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