Greece seeks bailout extension with new reform plan

Athens

GREECE'S new anti-austerity government submitted a preliminary list of reform proposals to Brussels on Monday in a bid to secure a four-month extension to its lifeline debt bailout, a European source said.

If the measures fail to win the approval of Greece's EU creditors, the country's safety net will collapse on Saturday leaving the government at risk of running out of cash, a run on banks and even a eurozone exit.