Greek proposal includes pledges for pension reform

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by CBNC

Stay tuned for analysis on Greece after details emerged from the reform proposal Greece sent to European officials on Thursday.

Bundesbank Chief Jens Weidmann, meanwhile, said that central banks have no mandate to safeguard the solvency of banks or governments, and stressed that emergency liquidity to Greece should not be increased. We'll keep you updated.

ES 2058.50 +17.25

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Greece is seeking 53.5 billion euros ($59 billion) as part of a new bailout package, according to draft legislation submitted to parliament early Friday.

Under the proposal, Athens would receive the loans from the euro zone bailout fund, the European Stability Mechanism, or ESM.

Greece's left-wing government has sent euro zone creditors a proposed new austerity package. The government says Greece's parliament will vote on the proposals late Friday before an emergency summit Sunday by European leaders.

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