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New Reform Plan by Greece

Greece has submitted a revised reform plan to the European Union (EU) and International Monetary Fund (IMF), BBC reports. The reform plan comes a day before Mr Tsipras meets the French President Holland and German Chancellor Merkel.

Earlier, Greek Prime Minister Alexis Tsipras rejected a set of reforms put forward by EU Commission President Jean Claude Juncker, after they hold a meeting in Brussels. Having done so, Tsipras insists that no cuts will be made on salaries and pensions.

The Troika of creditors (EU, ECB and IMF) demand further economic reforms before they transfer the remaining part of the bailout - approximately 7.2bn euros.

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