Grexit: Tsipras puts deal proposals to Merkel, Hollande and Juncker to avoid default deadline

 
Lynsey Barber
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Tsipras has spoken with EU leaders ahead of summit (Source: Getty)

The Greek Prime Minister Alexis Tsipras has presented new proposals to European leaders for a deal on debt repayments to avoid the country defaulting.

Tsipras put the proposals to German Chancellor Angela Merkel, French President Francois Hollande and EU Commission President Jean-Claude Juncker in a phone call this afternoon, ahead of emergency talks due to be held tomorrow.

Read more: How will a Grexit affect the euro? Analysts give their view

"The prime minister presented the three leaders Greece's proposal for a mutually beneficial agreement that will give a definitive solution and not postpone addressing the problem," the PM's office said in a statement.

Negotiations between Greece and Eurogroup ministers broke down last week and the end of Greece's current bailout agreement is fast approaching.

Tomorrow's summit is a last ditch attempt to come to an agreement before the 30 June deadline.

Read more: Not reaching a deal would be “insane”, says National Bank of Greece boss Louka Katseli

At a press conference with Italian Prime Minister Matteo Renzi, Hollande said: "There is no time to lose. Every day counts. Talks and negotiations must continue so that an agreement is reached."

Renzi said: "We are all convinced of the need to offer a solution that allows Greece to remain part of the Eurozone."

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