Greece, institutions to present Eurogroup with separate proposals

Greece and its creditors on Thursday were due to submit two separate documents to finance ministers at a Eurogroup meeting.

The documents were being drafted following a meeting between Greek PM Alexis Tsipras and the heads of the EU, the ECB and the IMF earlier on Thursday.

According to a non-paper issued by the Maximos Mansion on Thursday, the Greek government’s draft was largely based on a set of updated proposals put across by the Greek administration earlier in the week and defined at the time as a “good basis” for a possible solution to the ongoing deadlock by leading European officials. According to sources, one concession the Greek government is demanding is the lifting of a special VAT regime on the Greek islands.

Meanwhile, Greece’s creditors on Thursday were said to be drafting a “feasibility blueprint” to present to the eurozone’s finance minister. Sources suggested this was based on assessments made by the institutions with regard to a possible deal.