Deadline Day For Greece: Proposals Must Come In Before Midnight

Greece is facing a crucial deadline on Thursday: Present a credible reform proposal by the end of the day or risk missing out on the three-year bailout package the Alexis Tsipras-led government requested through the European Stability Mechanism, or ESM, on Wednesday. The debt-laden country's international lenders, the European Central Bank, the International Monetary Fund and the European Commission, are to receive Greece's blueprint for economic overhauls by midnight, giving them 48 hours to examine the reform plan before an emergency EU summit on Sunday. Greece has been given a final deadline of Sunday to reach a deal with creditors or it risks sliding into bankruptcy and facing an exit from the eurozone. Banks in Greece will stay closed until Monday, July 13, as will the country's stock market in Athens.