(VOVworld) – European Commissioner for Economic and Financial Affairs Pierre Moscovici expressed his hope that Greece and its creditors will overcome that differences over reforms Greece committed to in order to receive a third bailout of 86 billion euros.

Greek Prime Minister Alexis Tsipras (R) meets with EU Economic and Financial Affairs Commissioner Pierre Moscovici in Athens, Greece, Nov. 3, 2015. (Photo: Xinhua)

At a press conference in Greece on Tuesday, Mr. Moscovici said Greece has made great progress in honoring its commitments to creditors and everything is on the right track. He said there remain some unsettled issues including the demand for Greece to clear household debts. Greece’s plan to deal with bad debts is the key issue in the effort to recover its crippled banking system.

In August, Greece received its first bailout package of 13 billion euros. But it missed a second package of 2 billion euros in October when creditors asked Greece to implement the major reforms it promised before the disbursement. Finance Ministers of the euro zone will meet early next week to discuss whether Greece is eligible to receive this package.