Greece closer to bailout- Tsakalotos


Greece closer to bailout- Tsakalotos

BBC News: Greece only has minor details to be ironed out with its creditors to reach a bailout deal, this according to Greek finance minister Euclid Tsakalotos.

“Two or three small issues,” are pending with lenders said Tsakalotos.

An agreement is needed keep the country in the eurozone and avert bankruptcy.

Earlier, a Greek official was quoted as saying an agreement had been reached in talks between Greece and its lenders in Athens.

Greece has agreed the function of a new independent privatisation fund, and how non-performing bank loans will be administered, according to the official.

Both issues had been key sticking points in negotiations.

“Finally, we have white smoke,” the official was quoted as saying.

Greece has suffered greatly from the late-2000s recession and has been central to the related European sovereign debt crisis.

The Greek government-debt crisis, subsequent economic crisis and resultant protests have roiled domestic politics and have regularly threatened European and global financial markets since the crisis began in 2010.

 

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