The leaders of Germany and France said on Friday that they were united behind a new aid package for Greece that would include voluntary private sector participation on the basis of the so-called "Vienna Initiative".
German Chancellor Angela Merkel said this approach, based on the 2009 agreement by banks to maintain their exposures in central Europe at the height of the financial crisis, was a "good foundation" for a Greek deal.
After reports on Thursday that Germany wanted to wait until September to seal a new aid deal for Athens given disagreements over the role of the private sector, Merkel said: "The quicker we get a solution the better."
"The Vienna Initiative ... is a good foundation and I believe that we can move forward on this basis," she told reporters at a joint news conference with French President Nicolas Sarkozy.
Reuters
