Greece asks for $59B in aid, IMF says it needs more

Stay tuned for analysis on Greece after details emerged from the reform proposal the debt-stricken country sent to European officials on Thursday, including a reported request for 53.5 billion euros ($59.2 billion) in aid.

Meanwhile, International Monetary Fund (IMF) Chief Economist Olivier Blanchard warned that Greece may require even more debt relief and funding than the 60 billion euros ($66 billion) the fund forecast only a few days ago.

Greece has been given until Sunday by its creditors to come to a reform-and-aid deal or risk exiting the euro zone.

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