11 February 2015 Last updated at06:09 ET
Austerity under the bailout has thrown many Greeks into poverty
Greece to present bailout plans to EU finance ministers
Chris Morris reports on the cold front defining Greece's bailout talks
Greece's left-wing government is to present its first concrete proposals for an alternative debt plan at an emergency meeting of eurozone finance ministers in Brussels later.
The government wants to overhaul 30% of its bailout obligations, replacing them with a 10-point plan of reforms.
But EU ministers have warned that Greece must abide by existing terms.
The EU-IMF bailout for the debt-laden country expires on 28 February and Greece does not want it extended.
Instead the new Athens government is asking for a "bridge agreement" that will enable it to stay afloat until it can agree a new four-year reform plan with its EU creditors.
Prime Minister Alexis Tsipras's government won a confidence vote on Tuesday, with the support of 162 deputies in the 300-seat parliament.
The Athens stock exchange then fell by more than 3% ahead of the emergency Eurogroup meeting, during which Greece's new leaders will unveil their controversial debt proposals.
Austerity under the bailout has thrown many Greeks into poverty
Greece's Syriza-led government says the conditions of the €240bn (£182bn) bailout - sweeping spending cuts and public sector job losses - have impoverished Greece.
It rejects the "troika" team - the EU, International Monetary Fund (IMF) and European Central Bank (ECB) - overseeing the bailout's implementation.
High stakes
The government's proposal for overhauling its bailout comes in four parts, according to a finance ministry source widely quoted in Greek media.
Under the first part, Greece would co-operate on 70% of its bailout conditions but wants to scrap 30% - replacing it with 10 new reforms to be agreed with the Organisation for Economic Co-operation and Development (OECD). It is unclear what these would be.
The plan also includes bond swaps to reduce Greece's debt mountain and a proposal to reduce the primary budget surplus target for this year to 1.49% of GDP, rather than the 3% demanded by its creditors.
But a swift deal with the EU is unlikely. Most finance ministers, including Germany's Wolfgang Schaeuble, are insisting that Greece must not renege on its bailout conditions.
The Eurogroup ministers will report to Thursday's EU leaders' summit but a deal is not expected before the finance ministers meet again next Monday bbc
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