Hopes for Greek Deal Rise as Creditors Open to Debt Relief

Greece’s government is racing to finalize and submit a plan of reforms for its third bailout to give creditors time to review it ahead of a summit of the European Union.
Hopes for Greek Deal Rise as Creditors Open to Debt Relief
Athenians wave flags as they converge on Syntagma Square to show their support for the euro on July 9, 2015 in Athens, Greece. Christopher Furlong/Getty Images
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ATHENS, Greece—Hopes that Greece can get a rescue deal that will prevent a catastrophic exit from the euro rose on Thursday, after key creditors said they were open to discussing how to ease the country’s debt load, a long-time sticking point in their talks.

Greece’s government is racing to finalize and submit a plan of reforms for its third bailout on Thursday to give creditors time to review it ahead of a summit of the European Union’s 28 members on Sunday.

While creditors are waiting to see whether Greece will offer the full range of economic measures they have asked for, Donald Tusk, who chairs the EU summits, indicated that European officials would make an effort to address Greece’skey request for debt relief.