Athens in ‘intense’ talks to avoid another loan default

Greece and its creditors were involved in “intense talks” over the weekend to agree a new bailout before the debt-ridden country must repay 3.4 billion euros ($3.7 billion) to the European Central Bank on August 20.

 

European officials said sticking points still remain despite the progress being made, with a “generally positive reception… towards Greek readiness to vote on reforms this week.

 

“It is ambitious but feasible to come to an agreement in the coming days, preferably by 20 August,” an EU diplomat said Saturday.

 

Greece has been in discussions with officials from the ECB, the IMF and the European Stability Mechanism for the past week over further reforms they are demanding in return for a third bailout for up to 86 billion euros.

 

Read More: Athens in ‘intense’ talks to avoid another loan default – Yahoo News