LA Times · Jul 6, 2015
Greece to propose alternative bailout plan as banks face collapse
Greek Finance Minister Yanis Varoufakis speaks Sunday in Athens after the results of the bailout referendum. (Angelos Christofilopoulos / Associated Press)Greece intends to put forward new bailout proposals to its European partners at an emergency summit Tuesday, government sources here said, as officials sought to stave off a collapse of their country’s banking system and its potential ejection from the Eurozone.
Prime Minister Alexis Tsipras huddled with leaders from across the political spectrum Monday morning and well into the afternoon to thrash out a new bailout plan that they could support as a united front and that would be more palatable to international and European creditors.