Multi-speed Europe

A technical team from Greece will open talks about economic reforms this week with experts from its international lenders, the European Union, the European Central Bank and the International Monetary Fund, EU officials said.

Prime Minister Alexis Tsipras said on Monday that he is ?very optimistic? that an agreement with the eurozone can be found, starting with Wednesday?s Eurogroup.

"It's in everyone's interests to reach mutually beneficial solution,? he said after meeting Austrian Chancellor Werner Faymann in Vienna. ?That's why I am very optimistic"

EU Commissioner Pierre Moscovisi, speaking via a "spokesman", is the latest top European leader on Friday urging Athens to seek an extension to a bailout scheme ending this month.

A European Commission report published on Thursday holds good news for Romania in 2015.

"Economic growth in Romania is forecast to stay above potential at 2.7 per cent in 2015 and 2.9 per cent in 2016, powered by domestic demand and supported by the gradual recovery expected in the global economy," it reads.

The European Commission foresees a modest growth of 0.8 % for the Bulgarian economy in 2015 and a further 1 % growth in 2016.

This became evident from the Commission's Winter Economic Forecast, which was released on Thursday.

According to it, Bulgaria registered an economic growth of 1.4 % in 2014, which is an increase of 0.2 % compared to an earlier estimate.

By Jan Strupczewski & Paul Taylor

Greece can choose how to make its public finances healthy and its economy grow, but it must extend its bailout program by a few months to gain time to negotiate those steps, European Commission Vice President Valdis Dombrovskis said.

We advised Greece to cooperate with the Eurozone and the International Monetary Fund

“We advised Greece to do so and we are optimistic that through talks  a collaboration will be finally achieved ” said White House official.

Bulgaria's government has approved a bill on the creation of a Fiscal Council.

The bill, titled Fiscal Council an Corrective Mechanisms Act, describes the new entity as an independent consultative body on issues of fiscal governance, according to reports of dnevnik.bg.

Finance Minister Vladislav Goranov said that although Bulgaria wants to accede to the Eurozone immediately, it realises that it is not fully prepared to introduce the common European currency yet.

Goranov added in an interview for Darik radio on Saturday that this will happen when the other members of the Eurozone agree on Bulgaria to do so.

Latvia's Ambassador to Romania Ilgvars Klava on Wednesday said that there is a 'realistic possibility' for a decision to be reached during the Latvian Presidency of the Council of the European Union concerning Romania's accession to the Schengen area.

Photo credit: (c) Simion MECHNO / AGERPRES PHOTO