Greece 'to Make New Proposal Wednesday'

Greece will table a new proposal about its debt on Wednesday, German daily FAZ quotes Eurogroup Jeroen Dijsselbloem as saying.

According to FAZ, Dijsselbloem said the Eurozone finance ministers would discuss the proposal the very same day.

This came as the Eurogroup held a teleconference on Tuesday evening, with a move by Athens to request a second bailout package, this time only from the Eurozone's European Stability Mechanism (ESM), being the single item on the agenda.

Greece has until 01:00 local time on Wednesday (22:00 GMT, Tuesday) to pay a debt installment to the IMF or default.

More to follow.

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