Prime Minister Alexis Tsipras and German Chancellor Angela Merkel agreed in a telephone contact that a solution to the Greek debt issue is necessary and feasible at the next Eurogroup meeting on May 22.

The draft law on the ratification of the agreement will be tabled in parliament plenary on Wednesday and the discussion is expected to be concluded late on Thursday with the speeches of the political leaders and the voting procedure.

Greece can participate in the European Central Bank's (ECB) quantitative easing programme even this summer, according to banking officials and financial analysts.