O'Brien "is holding NSC meetings tonight and tomorrow morning and will convene a high-level interagency meeting this week," National Security Council spokesman John Ullyot said.
The agreement, which also contains provisions on the recognition of professional qualifications, replaces the current measures on free movement of people which lapses on Jan.1.
If all goes "very, very, very well", the extra debt the state is taking on to help fund short-hour work schemes and aid to businesses could hit 20 billion Swiss francs.
The government said this week it anticipates a budget deficit of around 1 billion francs next year.