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Italy's Renzi says hopeful on Greek deal before Sunday's EU summit

Xinhua, July 11, 2015 Adjust font size:

Italian Prime Minister Matteo Renzi on late Friday said he was hopeful a deal between Greece and its international creditors may come before the next European Union (EU) meeting due on Sunday, local media reported.

"Let's hope we don't see each other again on Sunday: that would mean an agreement on Greece has already been reached by (our) economy ministers on Saturday," Renzi told a joint press conference here, after meeting with Irish Prime Minister Enda Kenny.

He added he felt "more optimistic than before" on a possible solution of the crisis, after Greece's government on Thursday presented its reform proposals to the eurozone partners and the International Monetary Fund (IMF) to agree on a third bailout, Ansa news agency said.

However, Renzi stressed the challenge would not end with a deal on Greece, but only by focusing the discussion (within EU partners) "more on growth and less on austerity".

Kenny also sounded hopeful the meeting among finance ministers from the euro zone countries, or Eurogroup, on Saturday could result in an agreement with the Greek government.

Greek Prime Minister Alexis Tsipras presented a detailed agenda of tax hikes, fiscal and economic reforms to its creditors on Thursday night, in order to agree on a deal on its debt and avoid a default and a possible exit from the currency zone.

Athens had also officially submitted a request for a new three-year bailout loan to the European Central Bank (ECB) via the European Stability Mechanism (ESM) on Wednesday.

A final decision on Greece's proposals will be taken by European partners at latest on Sunday, when the leaders from all 28 EU countries are due to meet in a summit.

Also on Friday, Italian Finance Minister Pier Carlo Padoan said that "Italy does not face any risk of shock", even in the worst-case scenario on the Greek crisis.

"Italy is not Greece, it is a solid country after having implemented reforms," Padoan said at a meeting in Rome. Endit