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.