Speaking to The Wall Street Journal on the sidelines of the annual meetings of the International Monetary Fund and World Bank, Pierre Moscovici said that a discussion on debt relief for Greece could start when the program review by its creditors was completed. And that is due to be finished by the end of November.

Mr. Moscovici said there was no appetite among eurozone countries to cut Greece’s debt, but they could “consider an adapted re-profiling” of the debt, such as extending maturities or cutting interest rates on debt.

The commissioner said that “under those conditions I’m convinced that the [International Monetary Fund] can be and must be on board”.

Mr. Moscovici also said that “the climate has changed,” explaining that “the proof of it is that very few people talked about Greece here, which was a huge change with previous meetings.”

“I think the peak of the Greek crisis is behind us,” he concluded.