Greece crisis: PM Alexis Tsipras racing to save country from catastrophe with new bailout terms

Greek PM Alexis Tsipras is scrambling to put together a new bailout deal tonight in a last ditch attempt to save his country from catastrophe. Mr Tsipras has until midnight to present the rejigged package of tax hikes and spending cuts to Eurozone chi

efs. Gre

ece then faces a tense three days to see if European leaders will

accept the new offer or force the country out of the single currency All 28 EU leaders are gathering for an emergency meeting in Brussels on Sunday where Greece’s future will be decided. Europ2020第54期老版跑狗图 ean Council President Donald Tusk said the renewed Greek offer must be concret

e and realistic. “The realistic proposal from Greece will have to be matched by an equally realistic proposal on debt sustainability from the creditors. Only then will we have a win-win situation,” he said. View gallery If EU leaders refuse to back the deal on Sunday and release emergency funds to the debt-ridden country, Greece’s banks will collapse and send the economy into freefall. Contingency plans on Greece leaving the Eurozone are already being drawn up and include sending humanitarian

aid and imposing border controls. Greece’s banks will remain closed until at least Monday with withdrawals from cash machines

limited to 40. Mr Tsipras rejected the original terms of the bailout which would

hit pensioners and the low paid. Voters overwhelmingly backed his stance in a referendum last Sun

day. Video Loadin

gVideo UnavailableClick to playTap to playThe video will start in8CancelPlay now The latest offer is reported to include increasing corporation tax from 26% to 28%, hiking VAT on

luxury goods and raising hotel and restaurant taxes. Energy Minister Panagiotis Lafazanis warned the Government would not accept tougher austerity demanded by creditors. “We don’t want add to the past two failed bailouts a third bailout of tough aus

terity which will not give any prospects for the country. “Greece is not facing execution, it is not ready to acc

ept any fa

it accompli,” he said. poll loadingShould the EU offer Greece a better deal?0+ VOTES SO FARYes, I’m a sane human beingNo, I’m too rich to care

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