Talks at a Euro summit, which concluded in Brussels on Tuesday evening, reportedly revolving around finding a basis for a long-anticipated “mutually acceptable solution”.

The latest high-stakes deliberations came after various other institutional groups met on the “Greek issue”, i.e. the euro working group, the Eurogroup and even a four-way meeting between the Greek, German, French and EC leaders.

The Greek government reportedly tabled a new request for a two- or three-year loan from the ESM, either late on Tuesday evening or on Wednesday.

Most Eurozone-watchers converge on the fact that such a loan would be accompanied by a strict fiscal adjustment program and a series of reforms. Conversely, the Greek side is adamant in its demand for a debt abatement deal, with a simultaneous line of credit towards a growth-oriented policy highly desired as well.

Both requests will be considered at the Eurogroup teleconference on Wednesday, although Tuesday evening’s summit would provide the “political impetus” for achieving the breakthroughs.

Because ESM procedures take two to three weeks, Athens may also propose a “bridge” funding scheme until the end of the month, in order to reopen banks and pay a looming instalment to the ECB and IMF. The Greek side must fork over some six billion euros to both lenders in July.

Earlier, sources said the Greek government is considering the acceptance of a “short-term” agreement, a reversal from its position of seeking a long-term solution to its funding and economic woes.

A potential “bridge agreement” would transfer the long-term issue at a later date , but would cover a 3.7 billion-euro payment to the ECB on July 20, as well as a missed payment (1.7 bln) to the IMF.

“The Greek side’s proposal is a payment plan until the end of the month, without this meaning that we won’t listen to other short-term proposals, so that in the interim a ‘major and viable agreement’ is prepared,” was the latest statement attributed to the latest SYRIZA government ‘non paper’.

According to the same source, the Greek side will present on Wednesday what it calls “common ground” for a viable solution, taking into consideration the recent Greek referendum, joint positions by Greek political leaders and creditors’ positions. The venue to unveil the SYRIZA proposal is the Eurogroup teleconference on Wednesday.

Additionally, a ‘road map’ towards fleshing out a solution was discussed at a meeting between Tsipras, Merkel, Hollande and Juncker.