GREECE has submitted to its eurozone creditors a new bailout plan proposing a pensions overhaul and tax hikes in return for debt relief and a three-year rescue loan, a government source said early Friday.

"THE Greek proposal ... includes funding of the country's financing needs ... for three years, debt adjustment and a front-loaded investment package of 35 billion euros ($A51.86 billion)," the source said.

Originally published asGreece offers pension and tax reforms