EU awaiting new Greek debt proposals

Greece is staring down the barrel of a gun after the "no" vote in its referendum.

Greece is staring down the barrel of a gun after the "no" vote in its referendum.

Published Jul 7, 2015

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BRUSSELS: The finance ministers of euro-zone countries didn’t receive new proposals they had expected from Greece today, Eurogroup head Jeroen Dijsselbloem said after the crucial meeting.

“We welcome our new Greek colleague and listen to his assessment of situation after the ‘no’ vote in Greece,” he said in a short statement, adding that there are no new proposals from new Greek Finance Minister Euclid Tsakalotos.

“The Greek government will send a new request letter for ESM support.

“As soon as it comes in, hopefully tomorrow morning, we will have another conference call in the Eurogroup to formally start the process of dealing with the request,” Dijsselbloem said.

He noted that the group would ask the European Union institutions to look at the financial situation in Greece – the finance needed for in debt stability.

“And then the institutions will come back to us, and we will see whether we can formally start the negotiations,” he said.

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