30 Jun '15, 3pm

Tsipras asks euro region for a new bailout as meltdown looms - THE BUSINESS TIMES

Tsipras asks euro region for a new bailout as meltdown looms - THE BUSINESS TIMES

[OTTAWA] Greece asked for a new bailout program from the euro region hours before its existing aid agreement expires and pushes the nation toward a financial precipice. Prime Minister Alexis Tsipras made the request to the European Stability Mechanism to cover all the country's financial needs for the next two years, along with a debt- restructuring plan, his office said. Dutch Finance Minister Jeroen Dijsselbloem, who heads the group of euro-region counterparts that had been in negotiations with Greece, said it will be considered later on Tuesday. On the second day of capital controls that shut the country's banks, the government said it will continue negotiations seeking a "viable agreement" within the euro area. The proposal didn't include any of the economic-reform measures European negotiators had sought for months. The move is the latest attempt by Greece to force th...

Full article: http://www.businesstimes.com.sg/government-economy/greek-...

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