ANKARA
Asian shares rose on Tuesday and the euro held firm amid the hope that the Greek government would finally reach a compromise bailout agreement at its meeting with the Eurogroup in Brussels.
Japan's Nikkei rose 1.2 percent while MSCI's Asia-Pacific index, which fell to six-month low on Monday, was up 0.3 percent.
Greek Prime Minister Alexis Tsipras and his new finance minister Euclid Tsakalotos will leaders from the 19-nation eurozone with new proposals for a bailout for Greece’s crisis-hit economy.
Greece has until July 20 to reach a deal with its creditors that will unlock much-needed bailout funds. The Greek government will reportedly demand a new bailout of around 29 billion euros ($32.1 billion), along with an easing of previous demands for pension reform and labor market reform.
Tsipras gathered Greece's political parties, except the Communist Party, in a seven-hour meeting on Monday to forge an agreement on fresh proposals. The new offer has not yet been made public.
French President Francois Hollande and German Chancellor Angela Merkel both held telephone conversations with Tsipras on Monday. After the discussions they said they hoped Tsipras would make "credible proposals."
Greek banks, which shut last week, will remain closed until Thursday as they await further funding from the European Central Bank.
