Greece’s Creditors Propose $17.3 Billion Package to End Standoff

26-Jun (Bloomberg) — Greece’s creditors are proposing a five-month program extension and 15.5 billion euros ($17.3 billion) of funding to resolve a standoff with Prime Minister Alexis Tsipras’s government, said a European official.

The proposal by Greece’s three creditor institutions — the International Monetary Fund, the European Central Bank and the European Commission — would extend Greece’s bailout program through November, the official told reporters in Brussels, asking not to named because negotiations are ongoing.

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PG View: A third bailout? This solves nothing unless there are significant fiscal reforms required; something Greece has been loathe to implement.