Moscovici welcomes deal, calls for ‘understanding’ on debt

Pierre Moscovici, the European commissioner for economic and financial affairs, has called a preliminary deal between Greece and its lenders “a very positive development.”

“It is time to turn the page on this long and difficult austerity chapter for the Greek people,” Moscovici said in a statement Tuesday.

“With this agreement, we need now to write a new story of stability, jobs and growth for Greece and for the euro area as a whole,” he said.

“It is now for all partners to reach an understanding on the question of Greece's debt in the coming weeks,” he said.