Greece Offers Pension Savings, Tax Increases to Keep Euro


(Worthy News) – The government of Greek Prime Minister Alexis Tsipras submitted a proposal similar to one presented by creditors last month, in a last-ditch effort to keep the country in the euro, NewsMax reported.

The package of reforms and spending cuts, including pension savings and tax increases, was sent to creditors late Thursday and will be presented to the Greek Parliament Friday. The proposals are set to be discussed at a summit of European Union leaders Sunday to determine whether Greece will get a new bailout, or be forced to leave the single currency.

Although the odds of a so-called Grexit have climbed, “we continue to see Greece staying in the euro as marginally more likely, not least because the majority of Greeks prefer so,” Deutsche Bank analysts wrote in a note to clients. “Europe is intent on forcing an outcome either way.” [ Source ]

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