European Commission head Jean-Claude Juncker believes an agreement on a third bailout for Greece in return for more tough reforms is likely this month and preferably by August 20 when Athens must make a key debt repayment.

"All the reports I am getting suggest an accord this month, preferably before the 20th," when Greece must repay some 3.4 billion euros due to the European Central Bank, Juncker told AFP in an interview Wednesday.