The chair of Eurozone finance ministers, Jeroen Dijsselbloem, confirmed the receipt of Greece’s counteroffer of Greek economic reforms needed to qualify for further EU economic assistance. The reforms have not been made public and would be need to be approved by Greek parliamentarians before implementation should EU approval be given. It is thought a three year loan is involved but the Dutch minister would not comment until officials from the EU, ECB and IMF had made an assessment. It is thought more parties are coming around to the idea of some sort of “haircut” needs to be taken. The German finance minister said, “Debt sustainability is not feasible without a haircut and I think the IMF is correct in saying that.”