Greece Starts Talks on New Bailout Package with Creditors

Southeast Europe | July 27, 2015, Monday // 18:31|  views

File photo by EPA/BGNES

Discussions on a third bailout package have started in Athens between Greek authorities and representatives of Greece’s international creditors, the European Commission announced on Monday.

A Greek government spokeswoman, however, said that high-level talks would not begin until later this week, according to the BBC.

The talks on a new EUR 86 B bailout-for-reforms deal between Greece and top officials from the European Commission, the European Central Bank, the European Stability Mechanism (the eurozone bailout fund) and the and the International Monetary Fund were expected to start in Athens last Friday but were delayed.

“Teams from the institutions are already on the ground in Athens and work is starting immediately as we speak,” European Commission spokeswoman Mina Andreeva said at a news briefing. "Work has started, meaning that the institutions are talking to the Greek authorities."

Greek government spokeswoman Olga Gerovasili said that senior negotiators would only arrive in Athens on Thursday or later, according to the BBC.

The negotiations on the third rescue package will start on Tuesday with the European Union seeming ready to ask for more prior actions before any disbursement of funds, according to

While the government in Athens argues that the second set of reforms passed by the Greek parliament last week is enough for the release of the first loan tranche, creditors say that the prior actions the Greek MPs approved only allow negotiations to start but more reforms would have to be turned into law before bailout funds are released.

Both Greece and its creditors want to reach an agreement  before 20 August.


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Tags:   Greece, Athens, government, creditors, negotiations, talks, prior actions, disbursement, release, European Commission, International Monetary Fund, European Stability Mechanism, European Central Bank


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