{"id":133199,"date":"2015-07-10T06:54:28","date_gmt":"2015-07-10T06:54:28","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=133199"},"modified":"2015-07-10T06:54:28","modified_gmt":"2015-07-10T06:54:28","slug":"greece-debt-crisis-eurozone-receives-economic-reform-plan","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/?p=133199","title":{"rendered":"Greece debt crisis: Eurozone receives economic reform plan"},"content":{"rendered":"<p style=\"text-align: justify;\">The Greek government has submitted economic reform proposals to try to secure a further bailout from its creditors, eurozone officials say.<\/p>\n<p style=\"text-align: justify;\">They say they received the plan late on Thursday &#8211; just two hours before a midnight deadline. They will now study it ahead of EU meetings at the weekend.<\/p>\n<p style=\"text-align: justify;\">The measures include tax rises, pension reforms, privatisation and spending cuts, Greek media say.<br \/>\nGreece needs a third bailout to avoid a default and a possible euro exit.<\/p>\n<p style=\"text-align: justify;\">&#8216;No capitulation&#8217;<br \/>\nJeroen Dijsselbloem, the head of the 19-member eurozone group of finance ministers, confirmed that he had received the Greek proposals.<\/p>\n<p style=\"text-align: justify;\">Earlier, Greek Prime Minister Alexis Tsipras spent the day seeking agreement on the reforms from his government partners.<\/p>\n<p style=\"text-align: justify;\">On Friday, the Greek parliament will vote on Mr Tsipras&#8217; proposals. The plan will be then considered by eurozone finance ministers on Saturday, and by EU leaders at a summit in Brussels on Sunday.<\/p>\n<p style=\"text-align: justify;\">Greek voters decisively rejected previous austerity proposals from the country&#8217;s lenders in a referendum on Sunday.<\/p>\n<ul style=\"text-align: justify;\">\n<li>According to Greek media reports, the measures submitted on Thursday include:<\/li>\n<li>tax rise on shipping companies and scrapping tax discounts for islands<\/li>\n<li>unifying VAT rates at standard 23%, including restaurants and catering<\/li>\n<li>phasing out solidarity grant for pensioners by 2019<\/li>\n<li>\u20ac300m ($332m; \u00a3216m) defence spending cuts by 2016<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">Although reforms rejected in the referendum will now be conceded, this is no capitulation by Mr Tsipras, the BBC&#8217;s Chris Morris in Brussels reports.<\/p>\n<p style=\"text-align: justify;\">He is asking for far more in return than was on offer last month, our correspondent adds. Greece is reportedly seeking \u20ac53.5bn as part of a new bailout package and restructuring of its huge debt burden.<\/p>\n<p style=\"text-align: justify;\">Earlier on Thursday, European Council President Donald Tusk said creditors would need to respond to Greece&#8217;s reform plans with a &#8220;realistic proposal on debt sustainability&#8221;.<\/p>\n<p style=\"text-align: justify;\">Although reforms rejected in the referendum will now be conceded, this is no capitulation by Mr Tsipras, the BBC&#8217;s Chris Morris in Brussels reports.<\/p>\n<p style=\"text-align: justify;\">He is asking for far more in return than was on offer last month, our correspondent adds. Greece is reportedly seeking \u20ac53.5bn as part of a new bailout package and restructuring of its huge debt burden.<br \/>\nEarlier on Thursday, European Council President Donald Tusk said creditors would need to respond to Greece&#8217;s reform plans with a &#8220;realistic proposal on debt sustainability&#8221;.<\/p>\n<p style=\"text-align: justify;\">&#8211;<\/p>\n<p style=\"text-align: justify;\">Source: BBC<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Greek government has submitted economic reform proposals to try to secure a further bailout from its creditors, eurozone officials say. They say they received the plan late on Thursday &#8211; just two hours before a midnight deadline. They will now study it ahead of EU meetings at the weekend. The measures include tax rises, [&hellip;]<\/p>\n","protected":false},"author":24,"featured_media":133200,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[],"tags":[14],"class_list":["post-133199","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-papa-owusu-ankomah"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/133199","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=133199"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/133199\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/133200"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=133199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=133199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=133199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}