Moscovici: Greek debt relief deal could be reached by May 1


European Union Financial Affairs Commissioner Pierre Moscovici has said a badly needed debt relief deal for Greece could be agreed before the summer.

"We hope to reach a compromise on the Greek debt by May 1," he told LCP TV.

Moscovici said that a workable reform plan backed by the Greek government would be needed before any debt-reduction talks.

On Wednesday, representatives of Greece's European lenders and the International Monetary Fund arrived in Athens for talks expected to concentrate on plans to manage the growing number of non-performing loans and reform the country's pension system.