Greece eyes August 18 for bailout deal
Print Edition
Greece expects to conclude a bailout deal with international lenders by August 18, with the drafting of the accord set to start today, according to a government spokeswoman.
鈥淭he first phase of negotiations ends today and the second phase starts, which really contains the details of drafting (the deal),鈥 Olga Gerovasili told Skai TV station yesterday.
鈥淚f the terms of the (EU) summit are met, I think that we will have a deal by the 18th of this month,鈥 she said.
In an interview with Ethnos newspaper on Monday, European Economic Affairs Commissioner Pierre Moscovici described an August deal as possible, though added that it would be 鈥渁mbitious.鈥
The bailout, worth up to 86 billion euros (US$94.4 billion), needs to be settled by August 20 if Greece is to pay off a debt of 3.5 billion euros to the European Central Bank, which matures that day.
When creditors agreed last month to negotiate a deal aimed at keeping it afloat and in the eurozone, Greece committed to implementing major reforms, such as scrapping early retirement, by the end of October.
Lenders want, for example, an increase in the retirement age to 67 from the nominal 62 that falls significantly depending on the number of years worked and family status.
On Monday, Greece and lenders agreed that any pension reforms would not affect people who retired before the end of June. Talks were shifting onto issues related to the recapitalization of banks and privatization matters yesterday.
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