New Proposals Spark Ray of Hope for Greek Deal This Week

European policy makers expressed confidence that a deal with Greece was within reach after Prime Minister Alexis Tsipras’s government submitted a last-minute set of proposals they said could end a five-month standoff over aid.

Greek stocks and bonds surged as officials meeting in Brussels on Monday said that progress had been made toward meeting the terms of creditors, including in the contentious areas of pensions and revenue. While the set of reform measures was delivered too late for a full appraisal by euro-area finance chiefs, unlike prior proposals it wasn’t rejected out of hand and officials said it could form a basis for a deal.