Athens, lenders resume talks on Greek bailout review

Record ID: 335854

  • Title: Athens, lenders resume talks on Greek bailout review
  • Date: 28th February 2017
  • Summary: ATHENS, GREECE (FEBRUARY 28, 2017) (REUTERS) **** WARNING CONTAINS FLASH PHOTOGRAPHY **** VARIOUS OF EXTERIOR OF HOTEL WHERE TALKS BETWEEN GREECE AND REPRESENTATIVES FROM ITS INTERNATIONAL LENDERS ARE HELD HOTEL ENTRANCE GREEK POLICE AT HOTEL ENTRANCE CAR WITH GREEK FINANCE MINISTER, EUCLID TSAKALOTOS, ARRIVING TSAKALOTOS ENTERING HOTEL TSAKALOTOS WALKING INSIDE HOTEL LOB
  • Embargoed: 14th March 2017 12:41
  • Keywords: Greece bailout talks review lenders reforms
  • Location: ATHENS, GREECE
  • City: ATHENS, GREECE
  • Country: Greece
  • Topics: Budget/Taxation/Revenue,Government/Politics
  • Reuters ID: LVA00165FQKAV
  • Aspect Ratio: 16:9
  • Story Text: Greece and its lenders resumed long-stalled talks in Athens on Tuesday (February 28) about reforms Greece needs to adopt to keep bailout funds flowing and the crisis-hit nation financially afloat.
    The review has dragged on for months, in large part due to a rift between the European Union and the International Monetary Fund over Greece's bailout performance and its fiscal goals next year and beyond when the current bailout programme expires.
    Government ministers and technocrats were tight lipped as they gathered at a central Athens hotel for negotiations. A government official said they would examine the fiscal gap and any steps which should be taken after 2018.
    The uncertainty surrounding Greece's bailout talks has revived fears of a new financial crisis in the euro zone, just as investors' nerves are jarred by unpredictable election races in the Netherlands, France and Europe's paymaster, Germany.
    Greece does not need loans until the third quarter, but if the bailout funds are not dispersed in time Greece will face an elevated risk of defaulting on debt repayments worth about 7.5 billion euros in July.
    Europe says Athens is on track to meet its 2018 target for a 3.5 percent primary surplus - which excludes debt servicing costs.
    The IMF, still undecided on whether it will participate in Greece's third rescue package, says Athens cannot meet its targets unless it is granted further debt relief and adopts extra belt-tightening measures.
    To help break the impasse, the leftist-led government last week agreed to pre-legislate unpopular reforms, including changes in income tax and pension spending, that would come into effect in 2019.
  • Copyright Holder: REUTERS
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