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Updated 22.33
THE EUROZONE HAS received new bailout reform plans from Greece, a spokesman for Eurogroup chief Jeroen Dijsselbloem said tonight, less than two hours ahead of a midnight deadline.
Details of the new plans were not immediately available, but debt-stricken Greece’s creditors have demanded pension cuts and tax reforms in return for a new rescue package.
Leaders of the 19-country single currency area gave Prime Minister Alexis Tsipras the deadline at an emergency summit on Tuesday, warning that failure to comply risked Greece’s place in the euro.
Greeks overwhelmingly voted in a referendum on Sunday to reject previous austerity demands from international creditors in exchange for a new aid programme to replace the one that expired on 30 June.
At 9.30pm it seemed there may have been a hitch with the proposals as signed letters were not initially forthcoming.
Just after 10pm the requisite signed letters were received and the technical hitch was averted.
The cash strapped country needs money to reopen its banks which have been closed for nearly two weeks, and eurozone leaders have warned that the European Central Bank will cut emergency funding if it does not reach a new deal.
The new reform proposals will now be scrutinised by officials from Greece’s EU-IMF creditors, before going before eurozone finance ministers on Saturday and a full summit of all 28 European Union leaders on Sunday.
“The (creditor) institutions will examine them to give their view to the Eurogroup,” a European source told AFP on condition of anonymity.
They also need these proposals to determine the size of the bailout programme – that will also depend upon broader economic scenarios.
Greece’s application letter on Wednesday to the eurozone’s bailout fund, the European Stability Mechanism, called for a three-year programme but did not say how much money was needed.
Greek Prime Minister Alexis Tsipras vowed yesterday to present “credible” plans to seal more emergency loans from his exasperated European creditors ahead of a summit of all 28 EU leaders on the debt crisis on Sunday.
“The Greek government will tomorrow file new concrete proposals, credible reforms, for a fair and viable solution,” Tsipras told lawmakers at the the European Parliament in Strasbourg.
Greeks decisively rejected the latest bailout offer from EU leaders in a referendum on Sunday.
But the euphoria felt by some Greeks after the vote has quickly faded as capital controls have extended into their second week, limiting ATM withdrawals, and fears have grown over dwindling supplies of food and medicine.
Eurozone leaders lost patience with Greece on Tuesday after Tsipras and his new finance minister Euclid Tsakalotos showed up to a summit with no proposals.
However, the Greeks have officially decided to play ball.
In a formal letter to the European Stability Mechanism (ESM) – the EU’s lender of last resort – Tsakalotos said Greece would “immediately implement a set of measures as early as the beginning of next week”.
With additional reporting from AFP and Cianan Brennan.
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One less BMW tailgating me on the m50
@Artur Gurta: comment of the day sir
@Artur Gurta: Classy…not much value on Life one must deduce.
@Margate: do you like drug dealers?
@Margate: I didn’t know bmw’s were alive
Pew pew
Pretty sure there is a car chase. Theres a garda heli going back and fowards around blanch sc and about 20 garda sirens.
@Jack lynch: found the shooter in fortlawn
@Jack lynch: A garda car flew by us chasing a car driving away from there
@Stephen Tyrrell: Hope so.
@Monika Broughill: which way were they going, i could only hear the sirens and see the heli but guessed it was probably a shooting so didnt go any closer.
@Jack lynch: We were heading to Hartstown, they flew by us heading towads the centre
@Monika Broughill: i think they went through blanch from there cause the heli went over towards westend and then back up by the industrial estate
@Monika Broughill: you’ve got flying cars in Dublin…. I must admit you’s Dubs have a paler shade of complexity ….
@Jack lynch: We saw it going but we didn’t stop so not sure what happened.
@Stephen Tyrrell: wrong !!!!
@David Farrell: care to elaborate?
@Jack lynch: no
@David Farrell: Hahaha no problem
@Jack lynch: If he’s got he’s going away for a long… I mean a couple of years.
Another one bites the dust. The UK have knife casualties, we have gun casualties.
Where’s the post I put up asking the question about why ye didn’t report on the 180 illegal immigrants and asylum seekers and counting, that were caught driving taxis in Ireland among them Isis supporters and s3x offenders. Ye seem to be borrowing you heads in the sand. At the last count it was nearly 300 thumbs up in an hour. Yer not in touch with the real world I’m afraid.
Same road where yer man was shot few weeks back.
@Uncle Montys oaf: ye just about 500 yards up it and same last name but not related to each other
@Kenneth O Brien: do you know who the victim is?
@Jack lynch: ye
@Kenneth O Brien: not the say name
@Boeing Lover: same*
Jeez our city has gone to the dogs!! Every day there are stories of drug seizures…which is good and worse…shootings!! Revolving door judicial system does not help our Gardai trying to get the s%$m off our streets.
There dead outside a shop
@Kenneth O Brien: no they’re not. Critical in hospital at the moment
@Aideen Pollard: DEAD
@Kenneth O Brien: wrong
@TheTrustedChalice: nope, just on 9pm news, critical but stable
I’m sure he was a pillar of society
@Rory Mahon: Absolutely. On his way home from “work”
Can we just throw Dublin away? It’s really doing a number on our murder rate.
@Jason Genovani: Yep. Has become an Embarrassing wee spot, alright.
@Margate: yes so embarrassing. My god.
Loads of cops at the border Brit watching
@John Hartigan: Where would we be without Brexit. Ask FG.
Passing by, on the scene, there is a van stopped and it seems they shot on the glass of the door. The road is still closed
Need stricter gun laws… Oh I forget, we have the strictest gun laws already.
Point of order: Mulhuddart is north Dublin.
@Hundredth Idiot: point of order: Mulhuddart is West Dublin.
@kokonutter: Hahaha. Yep west.
@Hundredth Idiot: east Ireland
@Hundredth Idiot: No it’s not…it’s West Dublin. I live in North Dublin…no such problems here…..I wish!!!
Posted from??
Just say no
Plus all the reply’s were erased to from other people.
The new chief Wiggum is doing some job!
Slowly starting to get outta hand let’s be honest here as bad as Limerick was this is on a new level.
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