Greece PM Tsipras said to have indicated to the Govt to prepare for a compromise; will bring together Syriza party leaders for a meeting on Friday morning - press
- Follow up 1400ET: Subsequent reports indicate the draft proposals do not include direct pension cuts, but could raise pensioner contributions to the health program. Will maintain the 30% discount in VAT for many of the islands but will exclude the big islands that are frequent tourist destinations. VAT for food industry is increased to 23% (matching creditors' demand), but VAT on hotels at 13% would be maintained.
- Shipping industry, higher income earners, and gambling will also have higher taxes levied against them.