New Sunday Deadline
Eurozone finance ministers have given Greece until Thursday to present a final bailout proposal. Eurozone members are scheduled to discuss the deal on Sunday. Greek Prime Minister Alexis Tsipras has accepted the deadline and said his country is ready to reach a “"viable" deal with its international creditors. Last Sunday, 61.3 percent of Greek voters rejected the previous bailout terms imposed by international creditors.
Stocks Slump
Chinese stock markets closed on Wednesday with shares dropping by 5.9 percent. The day started with an 8 percent drop, which is the worst in four months. Stocks have lost 1.2 trillion dollars in value since mid-June. The drop Wednesday happened despite recent attempts by the government to stabilise the market. Almost half of China’s listed companies have suspended trading to protect themselves.
Taliban & Kabul Government Meet
Pakistan has hosted high-level talks between the Afghan government and the Taliban for the first time in years. The parties agreed to meet again in Doha, Qatar, on August 15th. Their meeting raised the prospect of formal peace talks. Pakistani Prime Minister Nawaz Sharif called the meeting a breakthrough.
Marijuana Decriminalised
Chile’s Lower House of Congress has passed a bill to decriminalise marijuana. This would legalise the recreational, medical and spiritual use of cannabis. It allows Chileans to keep up to six marijuana plants in their homes. The cultivation, transport and sale of marijuana is currently illegal and carries a 15 year prison term. The bill must still go before a health commission and the Senate for approval.
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