“In true dramatic fashion, the Greek government submitted an 11^th-hour proposal late yesterday that meets most creditor demands, in exchange for a new 53.5 billion euro bailout … Greece’s third since 2011.  In fact, details of the proposal, including spending cuts, pension reform and tax hikes, are nearly identical to the offer made by European creditors way back on June 26, which was summarily rejected by the Greek government, and then by voters in a July 5 referendum.  Hmm … the more things change, the more they stay the same.”

http://www.moneyandmarkets.com/end-game-just-pause-72130

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