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> Economy

EC official says deal with Greece close

Commission prepared to table compromise proposal at Eurogroup

Newsroom May 9 02:48

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A European Commission official has left a glimmer of hope that a last minute deal between Greece and its creditors could be reached after the Greek government passed a series of harsh austerity measures in parliament, late Sunday. According to the source, who made the statements while the morning Euroworking group is in progress, the two sides were close to finding a compromise on the contingency measures and the closing of the first review. French Finance Minister Michel Sapin had previously expressed optimism over the outcome Monday’s Eurogroup, scheduled to start at 4pm. European Commissioner on Financial Affairs and Taxation Pierre Moscovici opting to avoid any comments while entering the Brussels building. Sources in Brussels says that the European Commission aims to achieve a timely review of the first Greek program by tabling a compromise proposal in order to allow the ESM to release a tranche to Greece.

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