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Alliance News

Greece, Creditors To Kick Off Negotiations On Bailout Reforms

Wed, 11th Mar 2015 09:41

Brussels (Alliance News) - Greece and its creditors were expected Wednesday to launch a new round of negotiations on reforms that the country will have to implement in return for further bailout aid, amid fears that Athens could soon run out of money.

The two sides have made halting progress on the bailout since the new government of leftist Prime Minister Alexis Tsipras came to power in January on a platform of ending bailout-related austerity.

Eurozone finance ministers agreed two weeks ago to prolong the European portion of the Greek rescue package until the end of June. But they want the Tsipras government to agree to and start implementing reforms before it can access EUR7.2 billion in remaining international aid.

The talks on Wednesday in Brussels are expected to be between Greek authorities and the European Commission, European Central Bank (ECB) and International Monetary Fund (IMF) - the trio of creditors that has traditionally been known as the troika.

But the Tsipras government has been at pains to distance itself from the troika, which is widely reviled by Greeks who blame the bailout for their economic problems.

dpa amh hef

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