Greece close to finalising third bailout agreement with lenders.

Image Source
Image Source

Greece's lenders said on Thursday, that progress has been made regarding talks with Athens about the country's third bailout, bringing the agreement even closer to an end.

The lenders; European Commission, European Central Bank, International Monetary Fund and the European Stability Mechanism said in their statement that talks with Greece will continue in order to close the first review of the third bailout deal.

The Greek government had already suggested to cut spending to secure further financial aid this week when talks seemed to be unpromising due to disagreements between the country and its lenders.

However the two sides seem to be on common ground now as the deal is progressing positively.

European Council President Donald Tusk said on Wednesday that euro zone finance ministers should hold a meeting to discuss Greece to avoid uncertainty on whether the country can finance itself or not.

"I am convinced that there is still more work to be done by the ministers of finance," Tusk said.

Tusk also said he had already discussed the issue with Greek Prime Minister Alexis Tsipras.

Greece's lenders asked the country to organise a package of additional savings measures which will not be implemented if not needed. Without this package, the international lenders will not be willing to give Greece new loans.

Greece has to repay about 5 billion euros until mid-July.

"We have to avoid a situation of renewed uncertainty for Greece. Therefore we need a specific date for the new Eurogroup meeting in the not distant future, and I am talking not about weeks but about days," Tusk added.

Source: TRTWorld and agencies