European Commission President Jean-Claude Juncker will put forward new reform proposals on Monday at noon in Brussels in a bid to avert a debt default by Greece, EU Commissioner for Economic and Financial Affairs Pierre Moscovici has said. Speaking on French radio, Moscovici said the European Commission is willing to reopen negotiations with Athens, as there is "room for negotiation" and the sides are "centimeters away" from an agreement, Dow Jones Newswires reported Monday. Over the weekend, the Greek government moved to avoid a run on the country's banks by closing them on Monday until July 6, as Greece looks set to exit its bailout and default on its repayment to the International Monetary Fund due Tuesday.
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