Greek Prime Minister Alexis Tsipras is reported to be ready to accept all conditions from the country's international creditors, with only a few minor changes.
This would take Greece back to the deal that was on the table this past weekend, before it became the first European country to default on its loans.
In a two page letter, sent to the European Commission, the International Monetary Fund and the European Central Bank, the Greek leader requests a new 29 billion Euro bailout, according to the Finance Times newspaper which obtained a copy of the letter.
It's possible the letter could serve as the basis of a new bailout, however as Sandra Gathmann reports from Brussels, there is a great deal of caution around this development.
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