HUFFINGTON POST

Live Updates On The Crisis In Greece

Pro-European Union protesters gather in front of the Greek parliament in Athens during a demonstration by a ' we stay in Euro
Pro-European Union protesters gather in front of the Greek parliament in Athens during a demonstration by a ' we stay in Europe' movement on July 9, 2015. Greece was to submit a detailed bailout request to its eurozone partners on July 9 in a last-ditch effort to save its collapsing economy and its place in the euro, in an unprecedented test of EU cohesion. With the crisis reaching a climax that could have unpredictable consequences, the EU president urged creditors to compromise on granting debt relief to Greece. AFP PHOTO/ LOUISA GOULIAMAKI - FRANCE OUT - (Photo credit should read LOUISA GOULIAMAKI/AFP/Getty Images)

Greece on Thursday submitted a new proposal to its creditors that would see harsh austerity measures in exchange for bailout funds and a willingness to discuss debt restructuring.

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