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Greece's Last-Ditch Effort to Stay in Euro

Tsipras proposal approved by Greek cabinet ministers will be discussed at EU summit on Sunday.

By Nikos Chrysoloras and Matthew Campbell, Bloomberg | Updated on July 09, 2015

The government of Greek Prime Minister Alexis Tsipras drafted a new proposal it hopes will convince creditors to let the country stay in the euro.

The package of economic reforms and spending cuts, put together with help from France, was approved by a majority of the country’s cabinet ministers and is due to be submitted by midnight Brussels time. The proposals are set to be discussed at a summit of European Union leaders Sunday to determine whether the country will get a new bailout, or be forced to leave the single currency.

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