Greece makes new aid proposal, seeks debt restructuring
The Greek govt proposed today a two-year deal with the ESM to fully cover its financial needs.
ATHENS - Greece has submitted to creditors a new two-year aid proposal calling for parallel debt restructuring, the office of Prime Minister Alexis Tsipras said on Tuesday, in what seemed like a last ditch effort by Athens to resolve an impasse with lenders.
The statement came hours before Athens was set to default on a loan to the International Monetary Fund.
It was unclear how creditors would respond.
"The Greek government proposed today a two-year deal with the ESM (European Stability Mechanism) to fully cover its financial needs and with parallel debt restructuring," the government said in a statement.
"Greece remains at the negotiating table," the statement said, adding that Athens would always seek a "viable solution to stay in the euro."