Bets on Greek progress take European shares to one-week high
* FTSEurofirst 300 up 1.7 pct, volatility sinks
* C.Suisse: 75 pct chance of a deal on Monday
* Telecoms outperform after Bouygues approach
* Greek shares up 6.7 pct
By Lionel Laurent and Atul Prakash
LONDON, June 22 (Reuters) - European shares hit their highest level in more than a week on Monday, anticipating some progress on Greece's debt crisis after months of wrangling with international creditors.
The chief-of-staff to European Commission President Jean-Claude Juncker called the latest proposals from Greece a "good basis for progress", while EU Economic Commissioner Pierre Moscovici said he was "convinced" agreement will be reached.
"We remain of the view that the most likely outcome (with a 75 percent probability) is a deal," Credit Suisse analysts said in a note. "An unfortunate but predictable feature of European crisis decision-making is that such deals are only ever made at the last minute, 'at the edge of the abyss'. That's Monday."
Greek stocks surged 6.7 percent, with the local banking sector jumping 17.8 percent. Investors have been nervous that deposit outflows may prompt capital controls. Continuación...