As Clock Ticks, Greece Drafts Bailout Text for Party Leaders

Greece's government is preparing a document with a list of painful reforms needed to clinch a new financing package, a government official said on Tuesday, moving Athens one step closer to a deal needed to avoid a chaotic debt default. Officials worked on the draft of a text on the 130-billion-euro bailout plan that will be put to political leaders for approval as strikers protesting against more austerity tussled with police outside parliament. "The Greek government is working on the final document that will be discussed at the political leaders' meeting later in the day," the official told reporters. Safe haven German government bond futures reversed gains on news of progress in the talks, while the euro also rose against the dollar. Continue reading this article

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