Greek stocks rose on Wednesday after reports of a compromise plan from its international creditors -- although Greece insisted it had not formally received any new proposals.
The European Commission, European Central Bank (ECB) and International Monetary Fund (IMF) on Tuesday drafted the broad lines of an agreement to put to the Greek government, according to Reuters, in a bid to resolve months of tense negotiations over Greek reforms and debt.
On Wednesday, the Financial Times reported details of the proposals, including the requirement for Greece to post a primary budget surplus of 1 percent of gross domestic product (GDP) this year. This would be expected to rise to 3.5 percent in 2018 and is significantly below the target of 3 percent included in the country's existing EU/IMF bailout.
Greek stocks were trading higher by around 4 percent in afternoon trading with traders attributing the rise to speculation a reforms-for-rescue deal was near.
French economy minister Emmanuel Macron told CNBC in Paris Wednesday that Europe's leaders were committed to "find a solution to keep Greece in the euro zone," but this required an equal commitment from the Greek government.
"Mr Tsipras is completely aware of his chance and will have basically to take his responsibilities and propose some measures to meet his commitments," Macron added.
However, Greek government sources told CNBC that -- despite the FT report -- Athens had not received any official notification of the new proposals.
"We haven't seen the proposals. They haven't been formally tabled," an official, who did not want to be named due to the sensitive nature of the ongoing discussions, told CNBC.