Athens Seeks New Last Moment Deal

Just hours before it has to pay €1.6bn to IMF the Greek government is requesting a new bailout deal from the EU.

Greece is asking for a new two-year €29.1bn aid deal from a bailout mechanism for eurozone countries.
Eurozone finance ministers will discuss the Greek offer in a teleconference on Tuesday evening.
If it fails to make the IMF payment, Greece could risk leaving the euro.
The European Commission, which is one of Greece's creditors, wants Athens to raise taxes and cut welfare spending.
No advanced economy has ever missed a payment on an IMF loan.
Amid fears of a Greek default on its huge public debt of €323bn - and a possible exit from the euro - long queues of people are continuing to snake from many cash machines in Greece, where withdrawals are capped at just €60 a day.
Nothing if not dramatic, the Greek government has waited until well past the eleventh hour to request an entirely new third bailout.
It involves borrowing money from the eurozone's permanent bailout fund, the European Stability Mechanism - there is no mention of the IMF. Greece is asking for loans totalling €29.1bn to cover its debt repayments until the end of 2017.
But reaching an agreement on a third bailout could take weeks if not months.