Greece Asks For 2-year Bailout With ESM, Debt Restructuring

(RTTNews) - Greece has responded to a last-minute offer from creditors with a request for a two-year bailout and debt restructuring.

The Greek government has submitted a request for a two-year bailout with the European Stability Mechanism (ESM) to fully cover its financing needs, along with debt restructuring, the state-backed ANA-MPA agency reported citing a statement from the office of the Prime Minister Alexis Tsipras.

"From the first we made clear that the decision to call a referendum was not the end but the continuation of a negotiation seeking better terms for the Greek people," the report said.

This would imply the country is seeking a third rescue as its second bailout programme ends on Tuesday.