Greek Prime Minister Alexis Tsipras sought his left-wing Syriza party’s support Friday for a new budget austerity package, ahead of parliament’s vote on the Greek government’s latest proposal to the European Union for a $60 billion financial bailout plan.
The new plan by Tsipras’s government calls for pension cuts, tax increases and other austerity measures more stringent than an earlier proposal that Greek voters rejected in a referendum on Sunday, July 5. However, the new plan calls for much greater and longer-term financial support from Europe for Greece.
The Greek financial plan has already been delivered to finance ministers from the 19 EU members that use the euro as their common currency.
Jeroen Dijsselbloem, the head of the finance ministers’ organization, known as Eurogroup, said Friday the proposals are “extensive,” but he did not indicate whether they would be enough to ease concerns about Greece’s future financial health.