Athens is thought to be preparing a new proposal for its partners

According to sources cited by Mega Channel, the Greek government is believed to be preparing a new comprehensive agreement proposal, which is will soon submit for consideration to its partners, in order to call a Eurogroup for Tuesday evening.

It appears that the proposal submitted by the European Commission President Jean-Claude Juncker was the starting point, with an initiative expected from Prime Minister Alexis Tsipras.

The television network’s sources in the European Commission reported that following that proposal submitted on Monday evening, they noted that communication channels with Athens were opened and efforts were being made so that a new government proposal may be prepared.

Meanwhile, amid allegations that the General Accounting Office is making preparations for the transition to the drachma, the Greek Prime Minister is facing increasing pressure from party and cabinet into accepting the latest proposal submitted by the institutions.

The Government Vice President Yannis Dragasakis, who is acting as a ‘bridge’ between the European institutions and Greece, is urging the Prime Minister into returning to the negotiation table as soon as possible in order to keep the country afloat. The government’s general secretary Spyros Sagias is preparing to resign from his post, especially if the Prime Minister does not reconsider his stance.

Should the Prime Minister decide to ignore the calls for a return to negotiations it is likely that many government officials will openly express their differentiation to official policy, with resignations considered a highly likely possibility.

Meanwhile, State Minister Nikos Pappas stated in Parliament that the referendum will be carried out as planned and warned that the Prime Minister will not change his stance. Furthermore, when asked about the new proposal, upon arriving at the Prime Minister’s office, Alternate Minister of International Economic Relations Euclid Tsakalotos responded «what proposal?»

Mr. Tsakalotos later told Reuters that he expects greater flexibility from the country’s creditors over the next few days, adding that the creditor proposals will not activate the economy. He also clarified that he views the referendum as part of the negotiations and not a substitute, while underlining that the Greek government is hoping to reach an agreement with its creditors.

The Minister of Finances Yanis Varoufakis commented that all agreement proposals are variations of the proposal that was submitted to Greek authorities on the 25^th of June. Mr. Varoufakis noted that although Greece will not reject anything, a sustainable solution and credible proposal is necessary. He stressed that unless there are any provisions to make Greece’s debt sustainable, there is no point.

German media reports

German media have reported that the Prime Minister will have to provide guarantees to Angela Merkel, Francois Hollande, Jean-Claude Juncker and Jeroen Dijsselbloem. German tabloid Bild claims that PM Tsipras will be meeting today or tomorrow with European leaders and the institutions for secret negotiations. The Tagesspiegel newspaper notes that it is time for Angela Merkel to consider debt relief, in order to aver the complete destruction of Greece, citing Mrs. Merkel’s motto that if the euro fails, so will Europe.

European Commission spokesman confirms Tsipras-Juncker talks

The spokesman for the European Commission Margaritis Schinas confirmed that Prime Minister Alexis Tsipras contacted EC President Juncker on Monday evening. Mr. Schinas noted that after consulting with the Eurogroup chief Jeroen Dijsselbloem, Mr. Juncker told the Greek PM that while an agreement at the eleventh hour is possible, by calling a Eurogroup, the Greek government would have to make a move by midnight.

Sources from the Greek government have also confirmed the PM Tsipras has been in touch on Tuesday with the EC President Junker, the chief of the European Central Bank Mario Draghi and the President of European Parliament Martin Schulz. The German Chancellery however has commented that it is ‘too late’ for an extension of the Greek bailout program.