Greece's independent Regulatory Authority for Energy (RAE) on Monday announced plans to significantly reduce electricity rates in 2016 by reducing so-called "monopoly" charges.

The representatives of the institutions will come to Athens on Tuesday ahead of a new round of negotiations with the government on the second package of prior actions that will be tabled and voted in Parliament in December.

There is no issue of a Grexit, German ambassador to Greece Peter Schoof said on Tuesday while stressing the importance of supporting Greece on the refugee issue in order to protect the Schengen zone, speaking at an event organised by the "Center for Democracy and Reconciliation in Southeast Europe."