Greece expects bailout deal by August 18

Greece expects to conclude a bailout cope with worldwide lenders by Aug. 18, with the drafting of the accord beginning on Wednesday, authorities spokeswoman Olga Gerovasili mentioned on Tuesday.

“The primary part of negotiations ends at present and the second part begins, which actually comprises the small print of drafting (the deal),” Gerovasili mentioned. The drafting of the accord would begin on Wednesday, she mentioned.
“If the phrases of the (EU) summit are met, I believe that we’ll have a deal by the 18th of this month,” she mentioned.

European Financial Affairs Commissioner Pierre Moscovici described an August deal as potential, however mentioned it will be “bold”, suggesting that it will take arduous work to attain it.

The bailout, price as much as 86 billion euros ($94.42 billion), must be settled by Aug. 20 if Greece is to repay debt of three.5 billion euros to the European Central Financial institution that matures that day.

“We’re decided to pursue a deal, and be robust in negotiations till the final minute,” the Greek official mentioned.

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