Bailout Package: Creditors arriving in Greece
The two sides are under enormous pressure to hammer out the rescue deal before August 20
ATHENS:
Representatives from Greece’s international creditors are expected to arrive in Athens by Sunday night to start talks on a new international bailout for Greek government. A European Commission spokesperson, however, could not confirm the plans, saying only that representatives of the European Union, European Central Bank and International Monetary Fund - from whom Greece is seeking a bailout worth up to 86 billion euros ($94 billion) over three years - would fly out to Athens in coming days. The two sides are under enormous pressure to hammer out the rescue deal before August 20, when Athens is scheduled to make a loan repayment of 3.2 billion euros to the ECB that it cannot currently afford.
Published in The Express Tribune, July 26th, 2015.
Representatives from Greece’s international creditors are expected to arrive in Athens by Sunday night to start talks on a new international bailout for Greek government. A European Commission spokesperson, however, could not confirm the plans, saying only that representatives of the European Union, European Central Bank and International Monetary Fund - from whom Greece is seeking a bailout worth up to 86 billion euros ($94 billion) over three years - would fly out to Athens in coming days. The two sides are under enormous pressure to hammer out the rescue deal before August 20, when Athens is scheduled to make a loan repayment of 3.2 billion euros to the ECB that it cannot currently afford.
Published in The Express Tribune, July 26th, 2015.