The dramatic developments in the past few days appear to have helped the Greek government and its creditors come to an understanding that will allow for an agreement.

The machinations for an agreement began when Yannis Dragasakis and Euclid Tsakalotos visited ECB chief Mario Draghi in Frankfurt on Tuesday afternoon and culminated with a telephone discussion between Prime Minister Alexis Tsipras and European Commission president Jean-Claude Juncker.

In the joint-statement that was released, the terms used were carefully selected; for the first time the SYRIZA-led coalition government appears to have accepted the evaluation of the program. According to the statement, the two sides seem to have agreed on reforms in the country’s ailing pension system and the need for changes in the job market.

The joint statement released is as follows:

The European Commission President Jean-Claude Juncker and Prime Minister Tsipras had a telephone discussion today, where they noted the progress achieved over the last few days in discussions between Greece and its partners regarding the comprehensive list of reforms that are required for the successful completion of the evaluation procedure.

They notably discussed the importance of reforms to modernize the pension system so that it is fair, fiscally sustainable and effective in averting old-age poverty.

Furthermore, they discussed the need for wage developments and labor market institutions to play a supportive role in job creation, competitiveness and social cohesion.

In this context, there was a convergence of opinion on the role of a modern and effective collective negotiation system, which should be developed through broad consultation and meet the highest European standards.

The constructive talks must continue within the framework of the Brussels Group.