Athens sent new reform proposals to its lenders two hours before the deadline on Thursday. These are some reform proposals:

• Tax increases for shipping and railways companies;
  
• €300 million defence spending cuts by 2016;
  
• The raising of the retirement age to 67 by 2022;
  
• Unifying VAT rates at 23%, including restaurants and catering, scrapping tax breaks for the Greek islands;
  
• Phasing out solidarity grants for pensioners by 2019;
  
• The privatisation of ports and regional airports.