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Greek government races to finalize reform proposals, with danger of euro exit looming

  • Pensioners wait outside the main gate of the national bank of Greece to withdraw a maximum of 120 euros ($134) in central Athens, Thursday, July 9, 2015. With a deadline just hours away to come up with a detailed economic reform plan, Greece requested a new three-year rescue from its European partners Wednesday as signs grew its economy was sliding toward free-fall without an urgently needed bailout. (AP Photo/Emilio Morenatti)

    Pensioners wait outside the main gate of the national bank of Greece to withdraw a maximum of 120 euros ($134) in central Athens, Thursday, July 9, 2015. With a deadline just hours away to come up with a detailed economic reform plan, Greece requested a new three-year rescue from its European partners Wednesday as signs grew its economy was sliding toward free-fall without an urgently needed bailout. (AP Photo/Emilio Morenatti)  (The Associated Press)

  • A police officer stands as pensioners wait outside the main gate of the national bank of Greece to withdraw a maximum of 120 euros ($134) in central Athens, Thursday, July 9, 2015. With a deadline just hours away to come up with a detailed economic reform plan, Greece requested a new three-year rescue from its European partners Wednesday as signs grew its economy was sliding toward free-fall without an urgently needed bailout. (AP Photo/Emilio Morenatti)

    A police officer stands as pensioners wait outside the main gate of the national bank of Greece to withdraw a maximum of 120 euros ($134) in central Athens, Thursday, July 9, 2015. With a deadline just hours away to come up with a detailed economic reform plan, Greece requested a new three-year rescue from its European partners Wednesday as signs grew its economy was sliding toward free-fall without an urgently needed bailout. (AP Photo/Emilio Morenatti)  (The Associated Press)

  • Pensioners wait outside the main gate of the national bank of Greece to withdraw a maximum of 120 euros ($134) in central Athens, Thursday, July 9, 2015. With a deadline just hours away to come up with a detailed economic reform plan, Greece requested a new three-year rescue from its European partners Wednesday as signs grew its economy was sliding toward free-fall without an urgently needed bailout. (AP Photo/Emilio Morenatti)

    Pensioners wait outside the main gate of the national bank of Greece to withdraw a maximum of 120 euros ($134) in central Athens, Thursday, July 9, 2015. With a deadline just hours away to come up with a detailed economic reform plan, Greece requested a new three-year rescue from its European partners Wednesday as signs grew its economy was sliding toward free-fall without an urgently needed bailout. (AP Photo/Emilio Morenatti)  (The Associated Press)

Greece's government is racing to finalize a plan of reforms for its third bailout, hoping this time the proposal will meet with approval from its European partners and stave off a potentially catastrophic exit from Europe's joint currency, the euro, within days.

Prime Minister Alexis Tsipras was meeting Thursday with finance ministry officials a day after the government requested a new three-year aid program from Europe's bailout funds and promised to immediately enact reforms, including to taxes and pensions, in return.

Details of Greece's reforms must be submitted by Friday morning, giving time for creditors to review them ahead of a summit of the European Union's 28 members set for Sunday.

The last-minute negotiations come amid bank closures in Greece, where capital controls have been imposed.