Greece Prime Minister seeks parliament on EU debt talks- A new plan by Greek Minister Alexis Tsipras, hoping to save the country from economic breakdown.
Greece Prime Minister Alexis Tsipras is making his step to bring back the country’s financial stability.
“Nowadays, country is known for its financial collapse. However, Prime Minister Alexis Tsipras, asked lawmakers to endorse his new plan.”
This debt crisis timeline began in 2009 until now. Since then, many changes have occurred in Greece.
Their incomes have declined, levels of unemployment have increased, elections and resignations of politicians have altered the country’s political landscape radically.
The Greek parliament has passed many austerity bills. Protests have become common throughout the country.
The gradual increase of country’s long-running debt crisis causes other banks to closed.
Transferring money out of the country has isolated Greece from foreign suppliers from food and other commodities.
Prime Minister Alexis Tsipras’s new plan offers a pensions overhaul and tax hikes, this is for country’s debt and to rescue loan from euro zone. However, there are still no immediate word whether Greece’s paymasters would accept the new plan.
According to a government source, “The Greek proposal… includes funding of the country’s financing needs… for three years, debt adjustment and a front-loaded investment package of 35 billion euros ($38 billion),”
Greece pledged to raise its sales tax revenue, as it faced hard time convincing euro zone nations to agree to its third bailout.
As of now, Eurozone officials still on their process on the details of the plan before a make-or-break, that could decide Greece’s future.