ATHENS, Greece (AP) – Greece was preparing Wednesday to present its creditors with an official proposal aimed to save bailout talks from collapse, as time is running out for a deal that would keep the country solvent and within the euro currency bloc.
Government spokesman Gavriil Sakellaridis said the Greek plan would involve extending the 240 billion euro international loan agreement that has kept the country afloat since it nearly went bankrupt in 2010 – but, apparently, without the austerity strings attached.
“We believe the terms of the bailout cannot continue by any means,” Sakellaridis told private Antenna TV.
It was unclear whether that would be acceptable for Greece’s European creditor countries.
Greek shares were up 1.5 percent in late morning trading on the news, after days of losses, and the eurozone’s Euro Stoxx 50 index rose 0.8 percent.