Greece debt crisis: PM Tsipras to present new plan to eurozone

Greek Prime Minister Alexis Tsipras is expected to present new proposals at a eurozone emergency summit on his country's growing debt crisis.

The plan is said to include a demand for Greece's debt to be cut by up to 30%, after voters rejected the terms of an international bailout on Sunday.

Athens has been urged to make "serious" proposals as Greece risks defaulting on its €323bn ($356bn; £228bn) debt.

Greece's banks are to stay closed on Tuesday and Wednesday.

The European Central Bank (ECB) is maintaining its pressure on Greek banks, refusing to increase emergency lending and ordering them to provide more security for existing emergency loans

Mr Tsipras may be prepared to accept many of the demands made by Greece's creditors, the BBC's Chris Morris in Athens reports.

But - emboldened by his resounding win in the referendum - Mr Tsipras also wants the more gradual implementation of some reforms and substantial debt relief, reports say.

Following a meeting on Monday, the leaders of all Greek parties except the communists and far-right Golden Dawn party released a joint statement insisting that the country should stay in the eurozone.

"The recent verdict of the Greek people is not a mandate for rupture, but a mandate to continue and strengthen the effort to reach a socially fair and economically viable deal," the statement said.

Central to any negotiations will be new Greek Finance Minister Euclid Tsakalotos, who replaced outspoken Yanis Varoufakis on Monday.

Mr Tsakalotos has admitted he is nervous and worried about the crisis, but said Greece deserved a better deal.

French Prime Minister Manuel Valls says the eurozone could not "take the risk of Greece leaving". He told French radio: "The basis for a deal exists."

However, Germany earlier warned against any unconditional write-off of Greece's debt, saying it would destroy the single currency.

"I really hope that the Greek government - if it wants to enter negotiations again - will accept that the other 18 member states of the euro can't just go along with an unconditional haircut [debt write-off]," said German Economy Minister Sigmar Gabriel.

Speaking at the European parliament in Strasbourg, European Commission President Jean-Claude Juncker said the "ball lies in the court of the Greek government and it must explain in Brussels today how it sees ourselves extricating ourselves from the current situation"

What are the scenarios for Greece?