Greece negotiates format bailout process – Management Journal

Tuesday is likely that the Greek government will meet with representatives of the IMF , the European Commission and the European Central Bank to define what will happen to the negotiations.

ATHENS (AP) .- Greece and its lenders study the . format of the upcoming talks for the third bailout of the nation, said Labour Minister on Sunday, confirming a delay in negotiations

Also read: Greek Parliament approves demanded by creditors

Giorgos Katrougalos told private Skai television station following the previous discussions to formal negotiations. “The way to continue the negotiations still under discussion within the government,”

The negotiators of the European Commission, the European Central Bank and the International Monetary Fund should have begun arriving in Athens. On Friday talks on the new rescue package of around 85,000 million euros (93,000 million). But on Saturday night, a government official said discussions “technically” be on Tuesday. The source declined to be identified because the negotiations are underway.

Katrougalos said Finance Minister Euclid Tsakalotos and colleagues in the cabinet probably will meet directly with the inspectors, a move which so far He had been ruled by the Greek leftist government. “At the height to which we have reached, we are forced to negotiate,” he said. “Faced with the prospect of financial collapse, we have been forced to accept compromises.”

Prime Minister Alexis Tsipras, elected six months ago with a platform opposed to the rescue, had promised to end measures austerity and end direct talks in Athens between ministers and debt inspectors. But then I was forced to accept a compromise after the banks and the stock market closed late last month while deposits were down to an alarming level.

Since then banks have reopened but still in effect strict limits on withdrawals and other transactions.

The government Tsipras has already begun to implement new austerity measures demanded in return for the new bailout, but has relied on the support of opposition parties after almost a quarter of the legislators from his own ruling party, Syriza, opposed

The new agreement should be put before August 20. when Greece faces a payment to the European Central Bank for more than 3,000 million euros (3,300 million dollars).