Greece to Propose a Debt Compromise Plan to Creditors

ATHENS — Hoping to defuse a standoff that has set Europe and financial markets on edge, Greek officials intend to propose a detailed compromise plan at an emergency meeting with creditors on Wednesday in Brussels, a finance ministry official here said on Monday.

The plan will include the possibility of tapping part of a bailout loan disbursement of 7 billion euros, or $7.9 billion, that Athens had been saying it would reject, according to the official, who insisted on anonymity because the plans had not yet been made public.

Greece still plans to reject some of the harshest austerity conditions attached to Greece’s bailout loans, but will propose retaining about 70 percent of the terms, according to the official.

The government will also push for the minimum wage to gradually be restored to €751 a month, up from €586 currently.

At least one key European official indicated on Monday that Greece might continue to meet a skeptical audience among its creditors. If Greece wants to buy time by arranging some sort of bridge financing, it must still submit to an internationally supervised program of economic reforms, Wolfgang Schäuble, the German finance minister, said at a meeting of the Group of 20 finance ministers on Monday in Istanbul.

“Without a program, things will be tough for Greece,” Mr. Schäuble said. “I wouldn’t know how financial markets will handle it without a program, but maybe he knows better,” he said, referring to Mr. Tsipras.

The New York Times