Greece makes proposal for 3-year European loan

Greece has made a request for a three-year loan from Europe’s bailout fund on Wednesday and has pledged to “immediately implement” tax and pension related measures as of Monday. In the letter sent to the European Stability Mechanism earlier, the government said it will “set out in detail its proposals for a comprehensive and specific reform agenda” on Thursday at the latest. Greece’s aim, the letter went on, was to regain “full and affordable market financing to meet its future funding requirements as well as sustainable economic and financial situation” by the time the loan ends at the latest. The letter also says the country is committed to honoring its financial obligations to its creditors on time. “We trust Member States appreciate the urgency of our loan request,” it said.



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