Greece debt deal is 'doable' says top EU official

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  • EU Finance Commissioner Pierre Moscovici speaks during a news conference in Athens, Tuesday, Nov. 29, 2016. Bailout lenders want Greece to allow more flexible labor contracts and drastically scale back protection for troubled mortgages but the government fears the measures would deepen the domestic welfare crisis. (AP Photo/Thanassis Stavrakis)

    EU Finance Commissioner Pierre Moscovici speaks during a news conference in Athens, Tuesday, Nov. 29, 2016. Bailout lenders want Greece to allow more flexible labor contracts and drastically scale back protection for troubled mortgages but the ... government fears the measures would deepen the domestic welfare crisis. (AP Photo/Thanassis Stavrakis) (The Associated Press)

  • EU Finance Commissioner Pierre Moscovici speaks during a news conference in Athens, Tuesday, Nov. 29, 2016. Bailout lenders want Greece to allow more flexible labor contracts and drastically scale back protection for troubled mortgages but the government fears the measures would deepen the domestic welfare crisis. (AP Photo/Thanassis Stavrakis)

    EU Finance Commissioner Pierre Moscovici speaks during a news conference in Athens, Tuesday, Nov. 29, 2016. Bailout lenders want Greece to allow more flexible labor contracts and drastically scale back protection for troubled mortgages but the ... government fears the measures would deepen the domestic welfare crisis. (AP Photo/Thanassis Stavrakis) (The Associated Press)

  • EU Finance Commissioner Pierre Moscovici speaks during a news conference in Athens, Tuesday, Nov. 29, 2016. Bailout lenders want Greece to allow more flexible labor contracts and drastically scale back protection for troubled mortgages but the government fears the measures would deepen the domestic welfare crisis. (AP Photo/Thanassis Stavrakis)

    EU Finance Commissioner Pierre Moscovici speaks during a news conference in Athens, Tuesday, Nov. 29, 2016. Bailout lenders want Greece to allow more flexible labor contracts and drastically scale back protection for troubled mortgages but the ... government fears the measures would deepen the domestic welfare crisis. (AP Photo/Thanassis Stavrakis) (The Associated Press)

A senior European Union official says Greece could reach by the end of the year a key agreement to ease its bailout debt repayments.

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EU Finance Commissioner Pierre Moscovici said Tuesday that the two sides were close to overcoming differences on labor reforms and dealing with huge amounts of soured loans to businesses and home owners. He described a deal on debt relief as "doable."

Dutch Finance Minister Jeroen Dijsselbloem made similar remarks, speaking at the European parliament in Strasbourg, France. Dijsselbloem chairs the meetings of eurozone finance ministers, who next gather on Monday.

Lead bailout lender Germany has been reluctant to commit to debt relief measures for Greece, arguing that the country still needs to make fundamental changes to its economy and public administration to avoid overspending.