Arab Today, arab today athens in intense talks to avoid another loan default
Last Updated : GMT 10:15:56
Arab Today, arab today
Arab Today, arab today

Athens in 'intense' talks to avoid another loan default

Arab Today, arab today

Arab Today, arab today Athens in 'intense' talks to avoid another loan default

Greek Prime Minister Alexis Tsipras
Brussels - AFP

Greece and its creditors were involved in "intense talks" over the weekend to agree a new bailout before the debt-ridden country must repay 3.4 billion euros ($3.7 billion) to the European Central Bank on August 20.

European officials said sticking points still remain despite the progress being made, with a "generally positive reception... towards Greek readiness to vote on reforms this week.  

"It is ambitious but feasible to come to an agreement in the coming days, preferably by 20 August," an EU diplomat said Saturday.

Greece has been in discussions with officials from the ECB, the IMF and the European Stability Mechanism for the past week over further reforms they are demanding in return for a third bailout for up to 86 billion euros.

With its lenders insisting on "very good co-operation" from Athens, both sides were "working flat out on a draft memorandum of understanding" and "intense talks with Greece will continue over the weekend," another EU source said.

The ECB deadline means an agreement will have to be reached by next Monday to prevent Greece having to ask for a bridging loan to stop it defaulting on another repayment.

Cash-strapped Greece already missed two key payments to the International Monetary Fund that were due on June 30 and July 13, but the repayments -- amounting to around two billion euros -- were later made possible with a short-term EU loan.

Greek Prime Minister Alexis Tsipras said Thursday that the talks for a new bailout were in the "final stretch".

Tsipras is under pressure from a sizeable minority in his radical-left Syriza party who say the rescue package he agreed to in July piles further austerity on a weakened economy and goes against the government's campaign pledges.

But European Commission President Jean-Claude Juncker was optimistic a further crisis could be averted. "All the reports that reach me leave me to believe that an agreement will be possible in August," he told AFP.

Berlin, whose hardline stance forced Greece to cave in and accept further austerity measures, did not hide its doubts, however. Officials made clear earlier this week that there were "still a number of points to clear up".

According to the Sunday edition of the German Frankfurter Allgemeine Zeitung, a 27-page draft memorandum of reform commitments must be signed off by the Greek government this weekend to allow the new bailout to go through before the August 20 repayment falls due.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today athens in intense talks to avoid another loan default Arab Today, arab today athens in intense talks to avoid another loan default

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday