Rome, February 4 (RHC)-- Italian Prime Minister Matteo Renzi says he thinks that Greece is capable of reaching an agreement with its European Union partners over its huge debts. "I believe the conditions exist to find an accord with the European institutions," said Renzi on Tuesday, during a joint press conference with Greek Prime Minister Alexis Tsipras following talks in Rome.

The Italian Prime Minister also guaranteed to give Tispras the highest level of possible support in terms of "bilateral cooperation and in availability for dialogue."

The Greek government has arranged several meetings with the participation of the newly-elected Finance Minister Yanis Varoufakis and his counterparts from other EU members in an attempt to resolve the debt crisis.

Greece is seeking a deal that provides breathing space for a new debt arrangement with the so-called troika of lenders -- the European Commission, the International Monetary Fund (IMF) and the European Central Bank (ECB).