ATHENS - The European Commission said Tuesday that Greece has reached a technical agreement "in principle " with its international creditors on a third debt bailout .
"What we don't have is a political agreement," said Commission spokeswoman Annika Breidthardt, hours after Athens suggested that the deal was all but done.
Hammered out after marathon talks in Athens stretching into the early hours of Tuesday, the accord comes with financing of 85 billion euros ($94 billion), the Greek government said.
Breidthardt said the Economic and Financial Committee, which coordinates EU-wide economic policy, would make a conference call to all 28 member states to enable them "to take stock" of the accord.
Greece and its creditors -- the EU, the European Central Bank, the eurozone bailout fund and the International Monetary Fund -- are hoping to finalise the deal by August 20 when Athens must repay some 3.4 billion euros to the ECB.
Both sides said details remained to be hammered out, but Athens was planning to submit it to parliament later in the day.
The chamber is expected to vote on the accord on Thursday, and eurozone finance ministers could be asked to approve it the next day.
A finance ministry source told AFP that the remaining details "do not affect the main body of the agreement."
The Athens stock market rose 1.39 percent on Tuesday after three straight days of gains.
State broadcaster ERT on Tuesday said Prime Minister Alexis Tsipras had spoken to German Chancellor Angela Merkel, French President Francois Hollande, European Commission chief Jean-Claude Juncker and European Parliament chairman Martin Schultz about the accord.
The marathon negotiations dragged on into the early hours of Tuesday, with Athens committing to a primary deficit of 0.25 percent of output in 2015, and a surplus in 2016, meaning that no new fiscal measures will be necessary until then, the source said. In 2016 the primary surplus -- the balance not including debt service -- will be 0.5 percent, followed by 1.75 percent in 2017 and 3.5 percent in 2018, the source added.
The government said in a statement that the creditors had agreed to a "mild adjustment" on fiscal targets that will help foster growth and save some 20 billion euros compared with measures promised by the previous conservative-led administration.
It added that Greek banks would immediately receive 10 billion euros from the package, and will be fully recapitalised by the end of the year.
"Therefore there is absolutely no risk of a haircut on deposits," the statement said.
The Kathimerini daily said the Greek government would have to immediately implement 35 measures before the deal can kick in.
These include energy market deregulation, changes to tonnage tax for shipping firms, price cuts in generic drugs, a review of the social welfare system, phasing out early retirement, and implementing market reforms proposed by the Organization for Economic Cooperation and Development (OECD), the daily said.
Tsipras meanwhile is under pressure from many in his radical left Syriza party who say the new accord will pile further austerity on a weakened economy and goes against the party's campaign pledges.
But with his popularity among Greeks still high, Tsipras has warned the dissidents of early elections in the autumn if they continue to resist the measures.
However, the government spokeswoman insisted Monday that "there are no electoral thoughts".