Greece and lenders reach an agreement on reforms under rescue review –

Greece and lenders reach an agreement on reforms under rescue review


ATHENS (Reuters) – Greece and official creditors concluded talks on Saturday over the revision of their rescue plan, reaching an agreement on fiscal issues, labor and energy market reforms, bad loans and privatizations, the minister said. of Finance of the country.

PHOTO OF ARCHIVE – The Greek Finance Minister Euclid Tsakalotos makes a gesture during a press conference with the Dutch Finance Minister and the President of the Eurogroup Jeroen Dijsselbloem (not photographed) at the Ministry of Finance in Athens, Greece on the 25th September 2017. REUTERS / Costas Baltas

A The agreement between Greek officials and representatives of the European Union and the International Monetary Fund on the implementation of reforms and future commitments of the country must be approved by the finance ministers of the area euro, scheduled for December 4.

"The visit of the institutions is complete, the personnel level agreement closed," Finance Minister Euclid Tsakalotos told reporters. "We will present the agreement to the meeting of the Eurogroup on Monday"

Once concluded, the review will launch about 5,000 million euros in loans from the rescue program of Greece of 86,000 million euros, the third since 2010.

Athens and their lenders had been exchanging drafts on agreed and proposed reforms for days. After seven years of austerity and rescue loans amounting to some 270 billion euros, 238.3 billion pounds, Greece expects its third rescue to be the last.

The government has been willing to quickly complete the review, which began in October, to begin talks on debt relief and the terms of the country's exit from the rescue program that ends in August next year.

On Friday, Greece's energy minister finalized an agreement with creditors on the coal plants that the country will sell to comply with an EU court ruling.

Report of George Georgiopoulos; Stephen Powell edition

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