Greek Prime Minister Tsipras heads to Brussels to present latest proposal for deal

Greek Prime Minister Alexis Tsipras heads to Brussels to discuss his proposal for a long-delayed deal with Greece's creditors that Athens hopes will unlock vitally needed bailout funds.

Tsipras is scheduled to meet European Commission head Jean Claude Juncker Wednesday evening.

Tsipras announced on Tuesday he had submitted his proposal the previous night, as leaders of France, Germany, the European Central Bank, International Monetary Fund and European Commission met in Berlin to discuss Greece.

Tsipras' government has been struggling through frequently deadlocked negotiations with the ECB, IMF, EC and other Eurozone countries for a deal to unlock the 7.5 billion euros ($8.4 billion) remaining in its bailout.

Time is running out, with Greece facing repayments to the IMF of 1.6 billion euros this month. The first installment is due Friday.