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Greek Minister of Finance Yanis Varoufakis will propose a compromise solution to the European partners during tomorrow's meeting of the Eurogroup. It is suggested that the new agreement be valid for the next six months, until 31 August. The contract provides for the International Monetary Fund to play a key role, for the financial requirements of the country to be covered until the summer and for the lenders to agree to certain social benefits that have already been announced.

Bridging agreement instead of a memorandum

The six-month bridging agreement will be presented at tomorrow's extraordinary meeting of euro zone finance ministers and will be finalised in the coming days. The Greek government has preferred this compromise with its European partners instead of requesting an extension of the current bailout programme, namely because it does not want to call the new agreement a "Memorandum" but a"bridging agreement".

Key role for the International Monetary Fund

However, the supervisory Troika will play a central role in this agreement, including the International Monetary Fund, despite the initial statements of the government. The exact role of the Troika will be revised so that the technocrats, supervisors, will no longer arrive in Athens. Varoufakis and General Director of the International Monetary Fund Christine Lagarde will discuss this issue during tomorrow's meeting of the Eurogroup.

The new agreement contains 70% of the previous memorandum

• According to sources, the Greek proposal for a compromise solution that Varoufakis will present to the European partners will include 70% of the previous memorandum and will have the following characteristics:

• Covering the financial requirements of Greece by paying at least part of the instalments remaining under the previous programme and amounting to 7.2 billion euro, including 1.9 billion euro in order for Greece to cover all obligations and in particular about 7 billion euro on the bonds of the European Central Bank that will mature in July and August.

• Debt reduction through a technical exchange system -Swaps-, which will come into force on 1 September 2015.

• Utilisation of state property and privatisation, as the members of the Ministry of Finance categorically declare to complete the privatisation of Piraeus port, despite the statements by Minister of Shipping Thanassis Dritsas.

• Drastic reduction of the primary surplus projections to 1.5% of GDP instead of the previous 3%. The Ministry of Finance believes that 2014 will end with a primary surplus of around 1.49% of GDP.

The agreement will contain 10 "Surprise Reforms" agreed with the Organisation for Economic Cooperation and Development

The measures included in the new agreement between Greece and its lenders will contain ten "Surprise Reforms", as the cabinet members call them, which will be discussed with Secretary General of the Organisation for Economic Cooperation and Development Angel Gurria. He arrived in Athens today and tonight he will have dinner with Minister of Finance Varoufakis.

These 10 reforms will replace 30% of the tough measures in the memorandum, which have never been implemented.