Greece debt crisis: Tsipras in new bailout 'concessions'
Greece's Prime Minister Alexis Tsipras has offered new concessions to the country's creditors.
A letter to creditors sent by Mr Tsipras says he was prepared to accept most conditions that were on the table before talks collapsed and he called a referendum.
On Tuesday, eurozone finance ministers refused to extend the previous bailout.
Germany says a new agreement on a bailout would not be possible until after the referendum this weekend.
Human rights body the Council of Europe has said the referendum, which will ask Greeks if they want to accept their creditors' proposals, would "fall short of international standards" if held as planned on Sunday.
The body's Secretary General Thorbjorn Jagland told AP that the fact the vote "has been called on such a short notice... is a major problem", and criticised the lack of clarity in the question to be put to voters.
The letter to creditors shows that Mr Tsipras was prepared to accept a deal put forward last weekend, if a few changes were agreed.
European markets surged on the news Greece might be willing to accept a deal.
But the German Chancellor, Angela Merkel, said no new bailout talks would be possible before Greece holds Sunday's referendum.
All Greek to you? Greece's debt jargon explained
The Greek debt crisis has spawned its own lexicon of jargon, including "Greferendum" and "Paperology"
Austerity: Europe-wide economic policy of reducing government spending to reduce deficit or borrowing. Austerity measures were implemented in Greece as a condition of bailout loans, but rejected by its new anti-austerity government in January.Don't know your Drachma from your Troika? Here we explain some of the Greek debt crisis jargon you may have read, but not recognised.
Drachma: Greek currency before it was replaced by euro in 2001. The word translates as "handful". One of the world's earliest currencies, and the oldest in Europe, the drachma dates back as far as 1,100BC. It could soon make a hasty comeback.
Grexit: Short for "Greek exit" from the Eurozone. First coined by financial analysts in 2012 and now a real and looming possibility. Not to be confused with "Brexit" - the possibility of Britain leaving the EU.
Greferendum: Another handy portmanteau - short for "Greek referendum". The outcome of Greece's debt crisis now rests in the hands of its people after Greece announced it would hold a referendum on 5 July on the terms of its debts.
The
Greek drachma, Europe's oldest currency, could soon make a hasty comeback
ECB: European Central Bank. The ECB is the central bank of the eurozone and is responsible for setting the currency's monetary policy. It is owed about 6% of Greece's overall debt.
ELA: Emergency Liquidity Assistance. Emergency cash, in effect, loaned to Greece by the ECB to make sure Greek banks stay afloat while the country negotiates with its creditors.
ESM: European Stability Mechanism. The ESM is the eurozone's rescue fund. It can provide countries in financial difficulty with up to €500 billion (£355bn; $560bn). Greece has requested an ESM bailout to cover all its financial needs for two years.
Eurozone: The group of 19 EU countries that share a common currency - the euro. Has so far weathered the financial crisis and kept Greece within the currency, but there are serious fears about the future of the currency should Greece exit.
Exposure: Almost all the eurozone countries have lent money to Greece, leaving them "exposed" if Greece can't pay. The Eurozone's largest economies, Germany and France, are owed the most but countries with smaller or less robust economies, such as Slovenia and Spain, would likely suffer more.Greek debt had a "haircut" back in 2011
Haircut: A reduction in the value of a troubled borrower's debts. In 2011, Greece's private lenders received a massive 50% haircut of what they were owed, reducing Greece's debt by €100bn (£70bn; $110bn). Greece pushed for a second debt haircut this year but has failed to reach an agreement with its creditors.
IMF: The International Monetary Fund. Set up after World War Two to provide financial assistance to governments, the IMF is responsible for providing rescue loans to countries that run into debt problems. Since the 2008 financial crisis it has bailed out Greece, Ireland and Portugal.
Paperology: The exchange of documents between Greece and its EU negotiating partners has gone on for so long with no breakthrough that it has been given its own name - "paperology".
Troika: A Russian word meaning a group of three, used by Greek journalists and then others to describe the EU, ECB, and IMF - the trinity of institutions responsible for monitoring Greece's austerity measures. Greece's new prime minister, Alexis Tsipras, vowed in February that he would no longer acknowledge the "Troika" as an entity.
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