EU to propose new Greek debt plan to PM Tsipras

Greek Prime Minister Alexis Tsipras is due to travel to Brussels where he will be presented with a new plan to solve Greece's debt crisis.

International creditors will detail economic reforms needed if Greece is to receive further funding.

Tsipras has already said he has new proposals of his own that would involve painful concessions. A €300 million payment from cash-strapped Greece to the International Monetary Fund (IMF) is due on Friday.

The draft deal has been put together by the IMF, the European Commission and the European Central Bank following emergency talks with German Chancellor Angela Merkel and French President Francois Hollande.

Tsipras is to hold talks later on Wednesday with European Commission President Jean Claude Juncker.

Details of the draft agreement have not been released, but a senior EU official quoted by Reuters said it covers "all key policy areas and reflects the discussions of recent weeks".