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A New Greek Proposal? (updated)

A New Greek Proposal?

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  • Robert Kahn
    Steven A. Tananbaum Senior Fellow for International Economics

There are reports this morning that the Greek government has made a new proposal (PDF) to break the deadlock, involving a two-year bailout program to be funded from European facilities (e.g., ESM) and with explicit debt relief, but without the IMF financial involvement. Eurozone finance ministers will review the proposal in a call tonight.

Details are still limited, and I do not expect any agreement today (i.e., the IMF payment will be missed).  But a few initial thoughts.