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EU official calls Greek proposal "good basis for progress"

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The chief-of-staff to European Commission President Jean-Claude Juncker called the latest proposal from Greece to resolve its debt crisis a "good basis for progress" in talks among euro zone leaders on Monday.

[]BRUSSELS] The chief-of-staff to European Commission President Jean-Claude Juncker called the latest proposal from Greece to resolve its debt crisis a "good basis for progress" in talks among euro zone leaders on Monday.

In a tweet, Martin Selmayr said the proposal by Greek Prime Minister Alexis Tsipras had been received by Juncker, ECB chief Mario Draghi and IMF head Christine Lagarde. "Good basis for progress at ... Euro summit," he wrote in English.

Mr Selmayr, who is German, added: "In German, 'eine Zangengeburt'" - meaning a "forceps delivery". He gave no details.

Officials from the EU and Greece's other creditors have been working for four months to overcome differences and release funds to Athens, fearing it will run out of cash this month.

REUTERS