July 19, 2018

Greece holds out hope for a bailout

Greece holds out hope for a bailout

European officials combed through Greece’s last-ditch request for a bailout Friday as they raced to determine over the next 48 hours whether to throw the debt-laden country a financial lifeline before its economy collapses.

The leaders of Greece’s so-called troika of creditors — the International Monetary Fund, the European Central Bank and the European Commission — held a conference call Friday afternoon to evaluate the offer.

Greek Prime Minister Alexis Tsipras submitted a painful cash-for-cuts proposal late Thursday to the nation’s European creditors — a critical step toward ending more than five months of brinksmanship that many feared could lead to Greece’s ouster from the 19-member euro zone. Read more

 

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