Minister of finance Greece Euclid Tsakalotos expressed his belief on Tuesday that Athens and the creditors will reach an agreement on the timely new bailouts on August 20, when the very large debt payments due.
When leaving a meeting with the Chief negotiators from Greece's creditors — the European Union, the European Central Bank (ECB) and the International Monetary Fund (IMF) — Tsakalotos told reporters the talks run "at least as we expected".
"It's not worse, and maybe even a little better than I expected," he added.
Greece seek massive bailouts from the third creditors in an effort to avoid default (default) on a very large loan and was eliminated from the euro zone.
Both sides are under pressure to hammer out a deal before Aug. 20, when Athens is due to pay 3.4 billion euros (3.71 billion u.s. dollars) to the ECB.
If a deal is not reached by then, Greece will be forced to seek emergency aid in order to pay his debts.
Asked whether the negotiators would be able to meet the deadline growing closer, Tsakalotos says: "Yes. It never said, either on our side or their side, that the deadline would not be met. "
He added that there "no talks" with its creditors about possible emergency loans to allow Greece to make a payment to the ECB on 20 August.
Therefore,
Athens hopes to repay the debt with the first disbursement of bailouts
worth up to 85 billion euros (94 billion u.s. dollars or approximately
USD 1,379 trillion) over the next three years, which in principle has
been approved in the last month.
Greece was forced to seek emergency loans 7.16 billion euros from the European Union at the end of last month to pay overdue debt to the ECB and the IMF. https://www.mql5.com/en/signals/120434#!tab=history
