Greece tables two supplementary proposals for debt deal to creditors: gov't sources

Greece tabled two supplementary proposals to international lenders for a debt deal to resolve the Greek crisis as efforts to avert financial meltdown in coming weeks continue, government sources in Athens said on Tuesday.

The Leftist government submitted the two new texts to European Commissioner for Economic Affairs Pierre Moscovici, according to the sources.

The goal was to bridge the gap which divided Athens and lenders on fiscal adjustment and reforms in return of cash after the presentation of two draft deals by both sides last week after four months of tough negotiations.

According to the Greek government sources, by tabling the two new documents Athens aimed to "close the fiscal issue with alternative proposals and at the same time draft a feasible plan of making Greek debt sustainable."

The Greek side stressed that the exchange of proposals will continue at a political level ahead of a new meeting between Prime Minister Alexis Tsipras with German Chancellor Angela Merkel and French President Francois Hollande in Brussels on Wednesday.

According to media reports the new texts from Athens were not welcome with satisfaction in Brussels as "vague" and "insufficient" again.

The clock is ticking for Greece which is also running out of cash. On June 30 the debt laden country must repay 1.5 billion euros (about 1.7 billion U.S. dollars) loan installments to the International Monetary Fund with more financial obligations awaiting until autumn.

On the same day expires the four-month extension of the previous bailout agreed in February.

Without an agreement Athens faces the prospect of default and Grexit.

Greek officials have repeatedly said lately that they are making concessions for an honest deal asking for a final viable solution to the crisis, but warn that Greek people can not accept "absurd" and "humiliating" measures in exchange of more aid. Endit