NEWS

Greece to submit proposals ‘in next few hours’

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Greek Defense Minister Panos Kammenos says the Greek government's economic reform proposals will be submitted “in the next few hours.”

Athens must submit the proposals by midnight Thursday Brussels time, so they can be reviewed by the country's creditors ahead of a summit of European leaders on Sunday.

European creditors have described this as Greece's last chance to produce a credible and realistic list of reforms in order to receive bailout cash and prevent the country from crashing out of the euro.

Athens on Wednesday requested a third bailout, and promised to “immediately” implement reforms including to taxes and pensions.

[AP]