Greece makes new proposals for deal with bailout creditors

PanARMENIAN.Net - Greek officials say they have made new proposals aimed to strike a quick deal with bailout creditors and unlock vitally needed rescue funds, the Associated Press reports.

The proposals were submitted Monday, June 8, to the European Union's economic and monetary affairs chief, Pierre Moscovici.

A Greek official said Tuesday the two texts contained alternative ideas on budget measures required for creditors to approve the bailout payment, and proposals on "a workable plan" to render Greece's crushing debt load viable.

The submission follows last week's impasse, when bailout creditors responded to a 47-page Greek proposal with a brief counter-offer that Athens rejected as containing "absurd" measures.

A deal must be struck before the end of June, when Greece's bailout program ends.