Tsipras presents Europe with new debt deal

Greek Prime Minister Alexis Tsipras has presented new proposals on a "mutually beneficial deal" to end his country's debt crisis in a telephone call with European leaders Sunday, his office says.

The proposals outlined on Sunday by Tsipras to German Chancellor Angela Merkel, French President Francois Hollande and European Commission President Jean-Claude Juncker, on the eve of a crucial eurozone summit, were aimed at reaching a "definitive solution" to the standoff between Athens and its creditors, the Greek statement said.

The statement did not give details of the proposals.

In a sign that the two sides were preparing for drawn-out negotiations on Monday, a meeting of the eurozone's 19 finance ministers to take place before Monday's summit was brought forward by two and a half hours.

Tsipras is to arrive in Brussels on Sunday evening, a full day ahead of the summit that could decide Greece's future in the single currency zone.

On Sunday, Tsipras chaired a cabinet meeting in Athens to inform his team about possible shifts in Greece's stance on the reforms demanded of it by the EU and IMF.

The two sides have appeared far apart so far, with Athens demanding its crippling debt burden be eased and its creditors insisting on further reforms and spending cuts.

On Saturday, Greek Minister of State Alekos Flambouraris said Athens was preparing to present measures "that bridge the gap".