Greece and Europe agree to potential proposal.
Source article on CNN.com
- Since 2010, Greece has received ~€233 billion from the EU.
- Despite that, Greece is still in massive debt.
- Last week, the EU cut Greece off from more bailout funds.
- Greece is bankrupt. Banks are closed & withdrawals are limited.
- Greece will either leave the EU or agree to new bailout terms.
- Today, Greece and EU leaders agreed to a $96 billion proposal.
- The proposal includes new taxes and cuts to pensions.
- Greek Prime Minister has to pass the proposal in parliament.
- Other EU nations will have to pass the proposal as well.
- Then the formal negotiations on the new package can start.
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