EU's Moscovici says Greece Agreement Possible This Week

        By Inti Landauro

        PARIS--European Commissioner for Economic and Financial Affairs, Pierre Moscovici, said Tuesday that he expects a deal on Greek debt to be reached this week after European government heads moved closer to a solution during a summit held on Monday, and following an 11th-hour proposal submitted by Athens.

        "The parameters of an agreement are being elaborated," Mr. Moscovici said in an interview with French radio France Inter. "The heads of governments opened the road and designed the necessary parameters."

        "I am convinced we will find an agreement, as an agreement is now possible this week," he said. "I consider there are two days left before the Eurogroup meeting and the European council."

        Eurozone leaders, who held an emergency summit in Brussels Monday evening to discuss the latest Greek offer, said the Greek proposals are promising but more work is still needed to ensure the government's figures were in line with creditors' demands.

        Talks will continue for the next 48 hours. "We shouldn't consider the deal is done yet," Mr. Moscovici warned.

        This week's negotiations are considered to be Greece's last chance to unlock urgently needed financing and to keep its bailout program going.

        The confrontation with its main creditors--the rest of the eurozone and the International Monetary Fund--is at a decisive moment as the Greek government urgently needs a transfer of funds from its creditors to be able to meet a June 30 loan repayment of 1.5 billion euros ($1.7 billion) to avoid a messy debt default.

        -Write to Inti Landauro at inti.landauro@wsj.com

        (END) Dow Jones Newswires

        June 23, 2015 02:41 ET (06:41 GMT)

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