It is reported only a few minor details need to be ironed out – with the agreement expected to keep the country in the Eurozone.
It follows lengthy talks about the terms of the agreement, with Germany demanding the Greek government commits to economic reforms.
Business editor Vincent Wall says it paves the way for the 86 billion euro bailout the country needs.
“An agreement does seem to have been reached now – the Greek Finance Minister Euclid Tsakalotos confirming in the last hour that only a few minor details remain before final agreement on the deal” he said.
“That would pave the way for an overall 86 billion euro, third Greek bailout deal – and the short-term drawn-down of up to 20 billion euro by the Greeks to recapitalise its banks”.
“And to repay a 3.2 billion euro loan to the European Central Bank, which is due on Thursday week” he added.
