BBC says
"The Greek government has requested a
new bailout deal from the eurozone, just hours before its bailout
expires and it must repay €1.6bn (£1.1bn) to the International Monetary
Fund (IMF).
Greece is reportedly asking for a new two-year 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 repay the IMF loan, Greece risks leaving the euro.
The European Commission, which is one of Greece's creditors, wants Athens to raise taxes and cut welfare spending.
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."
