Greek deal to get German nod in Euro Group meeting

Germany has signaled that it stands ready to back the current Greek deal, clearing recent concern that German officials might block the deal asking for further reforms, which would have forced negotiators to reopen talks.

Euro zone finance ministers are meeting in Brussels today and today might be the day where deal gets finalized. The mood around the meeting is quite an optimistic one. Even German finance minister, known for his Sinicism sounded upbeat. According to Mr. Schäuble a concrete result is likely from today's meeting.

Crucial issue at today's meeting is defining the role of IMF. As of now the concerns of Greece and Euro zone partners are settled but IMF issue still lingers. IMF in recent days repeated asked for Greece's debt sustainability and at current situation IMF's inability to finance Greece.

This clearly means, one of the most critical issue, Greece's debt restructuring will be key focus today.

In Germany, however situation is a bit critical. Last month 60 members of the ruling coalition voted against Greek negotiation.

Vote on the Greek deal might result in further revolt, which would be clear embarrassment for Chancellor Merkel.