Greek government reconsidering Juncker proposal

According to a report citing Greek online newspaper ekathimerini the Greek government may be reconsidering last night´s proposal from European Commission president Jean Claude Juncker.

Read more: Juncker makes a last-minute offer as Tsipras pushes for 'no' vote in referendum

Some members of the Athenian government were said to have urged prime minister Alexis Tsipras to accept the last-minute offer.

The full details of the proposal were not known but included at least one of the Greek government´s revindications, that the value-added tax for hotels be set at 13% and not 23%, as originally asked for by creditors.

The Wall Street Journal described the proposals as "marginally sweetened".

If Tsipras acquiesced and informed Juncker, Eurogroup chairman Jeroen Dijsselbloem, German Chancellor Angela Merkel and French President Francois Hollande of his decision by letter then an emergency Eurogorup meeting might be called for by Tuesday.

Eurozone finance ministers would adopt a statement saying a 2012 pledge to consider stretching out loan maturities, cutting the interest rate on loans and extending an interest payment moratorium on Eurozone loans to Greece would be agreed by October of 2015, ekathimerini.

However, according to reports on Tuesday German officials were warning the European Commission had no mandate to make revised offers.

As of 10:49 the yield on 10-year Greek government bonds was higher by 74 basis points to 15.41%.

On Monday evening Tsipras said Greece would make the payments falling due to the IMF on the following day should the country receive another offer from creditors, Sky had reported.

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