The Eurogroup of finance ministers met in Brussels on Friday to debate the latest developments in the latest 85 billion euro ($94.8 billion) bailout program for Greece.
"Hopefully, by the end of the evening we'll have a positive outcome," Eurogroup President Jeroen Dijsselbloem told reporters ahead of the meeting.
According to Reuters, a Greek official said Friday that European officials had recommended that euro zone finance ministers disburse an initial 23 billion euros in a first aid tranche to Greece under the new bailout deal.
Dijsselbloem added that debt sustainability was, "still a major point of concern, certainly for the IMF (International Monetary Fund)."
"Hopefully we can make sure that it (the debt) is sustainable by then (October) and give further guarantees, if necessary, so that the IMF can come on board in October, because that's very important to all of us," he later added.
Kostas Chrysogonos, a Syriza member of the European parliament (MEP), told CNBC Friday that he hoped the deal would be completed at the meeting.
"It's obvious we have to sign (a bailout deal) and we have to implement this agreement," he said.
A confidence vote was the last thing Greece needed right now, he added, so soon after Tsipras was elected in January.
"I'm hopeful that many of the dissenters will resign their parliamentary seats…and the confidence vote will be enough to gain the confidence of the parliament for this government. It's obvious that the last thing that we need right now is a general election, a country that stands at the edge of default cannot afford the luxury of having a second general election within eight months."
Although the country and its international lenders and those overseeing the program – the European Commission, European Central Bank, European Stability Mechanism (ESM) with input from the International Monetary Fund (IMF) –have agreed technical details, a political agreement in the euro zone by member state governments is now necessary before any aid is release.
But that is easier said than done with tensions running high both in Greece and Germany, Greece's largest euro zone lender, over the bailout. This raises the possibility that the bailout deal could be delayed and Greece issued a bridging loan to tide it over – it has a 3.2 billion euro payment due to the ECB on August 20.