Greece unveils austere draft budget

• Although the country's economy still remains on shaky ground, Greece has unveiled a tough draft budget for 2016 that complies with creditor demands for a third bailout.
• According to the plan, the economy this year will contract 2.3%, followed by a further 1.3% in 2016. Unemployment is expected to inch higher next year to 25.8% from 25.4% in 2015.
• Based on the series of tax hikes and spending cuts, Athens now expects to return to the capital markets within the next 20 months.
• ETFs: GREK