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Greece’s bailout inspectors in Athens amid debt relief hopes Greece’s bailout inspectors in Athens amid debt relief hopes
(about 1 hour later)
ATHENS, Greece — Bailout inspectors have returned to Athens for talks with Greece’s government, as the European Union Financial Affairs Commissioner Pierre Moscovici said a badly needed debt relief deal could be hammered out before the summer. ATHENS, Greece — Bailout inspectors returned to Greece on Wednesday to complete a review of the government’s economic reforms, which is needed before the country can get more rescue loans and much-needed debt relief.
The officials representing Greece’s European creditors and the International Monetary Fund are in Athens Wednesday for talks expected to concentrate on the plans to manage the rising number of non-performing loans and overhaul the country’s troubled pension system. The officials representing Greece’s European creditors and the International Monetary Fund are expected to discuss the government’s plans to manage the rising number of banks’ bad loans and to overhaul the troubled pension system.
The inspectors are monitoring progress of measures demanded under Greece’s third international bailout agreed last year with left-wing Prime Minister Alexis Tsipras.The inspectors are monitoring progress of measures demanded under Greece’s third international bailout agreed last year with left-wing Prime Minister Alexis Tsipras.
In Paris, Moscovici said a swift conclusion of the negotiations in Athens would pave the way for a debt relief deal that was likely to improve repayment terms but not see any direct debt reduction. “There are difference between the two sides, but that is the subject of our negotiation,” Economy and Development Minister Giorgos Stathakis told parliament, denying claims that the negotiations have stalled.
In Paris, EU Financial Affairs Commissioner Pierre Moscovici said a swift conclusion of the negotiations in Athens would pave the way for a debt relief deal that was likely to improve repayment terms but not see any direct debt reduction.
“We can conclude talks in the month ahead at the technical level,” Moscovici told a parliamentary television channel in France. “After that — as we know — as soon as there is a conclusion on the reforms needed, we must talk about the debt ... If we can succeed by May 1 that would be good, having wrapped it all up.”
Greece’s national debt is set to exceed the high level of 180 percent of gross domestic product this year, after years of austerity measures that have weakened the economy.
Prime Minister Alexis Tsipras is facing widespread opposition to pension reforms that are set to increase contributions for employers and salary earners so that hefty cuts in monthly payments to retirees can be avoided.
Farmers staged highway blockages for several weeks earlier this year, while lawyers, doctors and other professional groups have also staged protests. Greece’s largest labor union, the GSEE, is planning an anti-bailout protest later Wednesday.
In central Athens, two former ministers in the Tsipras government led a small group of demonstrators who briefly occupied the local European Commission building to protest the renewed bailout talks and EU migration policy.
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Ganley reported from Paris.
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Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.