Greece is optimistic it can reach a deal with its euro zone lenders and the International Monetary Fund next week on a batch of reforms required under the country’s bailout which would also provide some clarity on how to deal with Athens’ huge debt.

Time is short because the deal would need to be approved by euro zone finance ministers who meet on February 20.

Any big delay beyond that date would mean an agreement would face additional challenges from Dutch parliamentary elections in March and then French presidential elections in April and May, only to be followed by German elections in September.

“I am optimistic that we could have such an agreement before the Eurogroup on Feb 20,” Greek Alternative Foreign Minister for EU affairs George Katrougalos told reporters in Brussels.

The euro zone lenders would have signed off on the review of Greek reforms required at this stage by the bailout agreement already in December, were it not for the IMF, which wants Greece to make bolder changes to its pension system and reform its income tax model.

“We are trying to forge a package that would be a decent compromise,” Katrougalos said. “This package, in order to be decent, cannot contain irrational demands like those by the IMF,” he said.

Source: Reuters (Reporting By Jan Strupczewski, editing by Julia Fioretti)