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| Version 3 | Version 4 |
|---|---|
| Greece debt crisis: Eurozone receives economic reform plan | Greece debt crisis: Eurozone receives economic reform plan |
| (35 minutes later) | |
| The Greek government has submitted proposals for economic reforms in an effort to secure a further bailout from its international creditors. | The Greek government has submitted proposals for economic reforms in an effort to secure a further bailout from its international creditors. |
| Eurozone officials received the plan late on Thursday, two hours before a midnight deadline. They will now study it ahead of EU meetings at the weekend. | Eurozone officials received the plan late on Thursday, two hours before a midnight deadline. They will now study it ahead of EU meetings at the weekend. |
| Greece's lenders had demanded tax and pension reforms in return for funds. | Greece's lenders had demanded tax and pension reforms in return for funds. |
| The indebted country needs a third bailout to avoid a default and a possible exit from the euro. | The indebted country needs a third bailout to avoid a default and a possible exit from the euro. |
| Greece's Prime Minister Alexis Tsipras spent Thursday seeking agreement on the reforms from his government partners. | Greece's Prime Minister Alexis Tsipras spent Thursday seeking agreement on the reforms from his government partners. |
| Mr Tsipras's proposals will be considered by eurozone finance ministers on Saturday, and by EU leaders at a summit in Brussels on Sunday. | Mr Tsipras's proposals will be considered by eurozone finance ministers on Saturday, and by EU leaders at a summit in Brussels on Sunday. |
| The Greek government will also seek parliamentary approval for the reform package. | The Greek government will also seek parliamentary approval for the reform package. |
| Greek voters decisively rejected previous austerity proposals from the country's lenders in a referendum on Sunday. | Greek voters decisively rejected previous austerity proposals from the country's lenders in a referendum on Sunday. |
| According to reports in the Greek media, the measures submitted on Thursday evening involve tax rises and spending cuts worth more than 12bn euro - more than those rejected in the referendum. | According to reports in the Greek media, the measures submitted on Thursday evening involve tax rises and spending cuts worth more than 12bn euro - more than those rejected in the referendum. |
| Greek banks have been closed for nearly a fortnight with limits placed on cash withdrawals. | Greek banks have been closed for nearly a fortnight with limits placed on cash withdrawals. |
| Earlier on Thursday, European Council President Donald Tusk said creditors would need to respond to Greece's reform plans with a "realistic proposal on debt sustainability". | Earlier on Thursday, European Council President Donald Tusk said creditors would need to respond to Greece's reform plans with a "realistic proposal on debt sustainability". |
| Mr Tusk's comments could be seen as supporting calls to reduce Greece's debt burden. | Mr Tusk's comments could be seen as supporting calls to reduce Greece's debt burden. |
| But the German Chancellor Angela Merkel ruled out debt reduction, saying she was against "the classic haircut". | But the German Chancellor Angela Merkel ruled out debt reduction, saying she was against "the classic haircut". |