Greek debt talks ended on Thursday without a deal struck between Athens and EU officials.
The Reuters news agency reported that the EU is pushing Greece to slash pensions, sell off state assets and push on with welfare reforms.
European Commission president Jean-Claude Juncker said further talks would be held over the next few days.
“I was sleeping three hours after having had a long and sportive discussion and negotiation with the Greek PM and the reason why I have to leave at 11:00 is immediately and, related to that, because we have to prepare the next round of negotiations.”
Experts say that Tspiras will have to come up with an acceptable plan pretty quickly as the country is fast running out of money.
“There are a lot of element where there are huge discrepancies. Where it has to do with the overall debt situation, the debt sustainability question with respects to reforms of social security systems in Greece. So there are number of issue, thorny issue, where they still need to find some sort of a compromise,” said Janis Emmanouilidis of the European Policy Centre
Tspiras will address his country’s parliament at 6pm local time. In the speech, he says he will outline the progress made in the negotiations with the troika of the EU, the IMF and the ECB.