Greece Asks For Three-year Bailout Program: WSJ

By Sara SjolinMarketWatch Pulse

Greece has requested a three-year bailout program from the eurozone's rescue fund, the European Stability Mechanism, according to a document obtained by The Wall Street Journal. The country's previous ESM applications had been for two years. The document also showed that Greece promises to implement tax reforms and pension changes as early as next week. Earlier on Wednesday, Greek Prime Minister Alexis Tsipras told the European Parliament his government would present a detailed list of reform proposals in coming days in a bid to unlock further bailout aid. He also said his country is on the "verge of bankruptcy."

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