Greece Races Against Clock to Submit Reform Proposal

Greece submitted a request for aid from Europe's bailout fund Wednesday, and is rushing to detail a plan of economic reforms that creditors want to see this week if they are to save the country from financial collapse and keep it in Europe's joint currency, The Associated Press reported. "We need to ensure the medium-term funding of our country with a development and growth program," Greek Prime Minister Alexis Tsipras told lawmakers at the European Parliament. The country’s request needs to be backed up with a presentation that includes a detailed, cost-assessed plan on the economic measures it would take in exchange for loans by the end of Thursday. So far, Greece has only produced an outline of the measures.

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