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Greece crisis: EU negotiators in Athens for bailout talks Greece crisis: EU bailout talks in Athens delayed
(about 9 hours later)
European negotiators have arrived in Athens to begin discussions about a third Greek bailout. High-level talks between Greece and its European creditors on a third bailout for the country have been delayed due to logistical problems, officials say.
Government officials are expected to meet representatives of EU creditors, in the first high-level negotiations in the Greek capital since leftist Alexis Tsipras became prime minister. Government officials had been expected to meet representatives of EU creditors in the Greek capital on Friday.
It comes after Greek MPs approved tough new conditions set by the EU lenders. But a European Commission spokeswoman later said those representatives would arrive "in the coming days".
It is unclear when representatives of the IMF will join the talks on the proposed €86bn (£60bn) bailout. Greek MPs have approved tough new conditions set by the EU lenders for talks on the €86bn (£60bn) bailout.
The Washington-based International Monetary Fund wants Greece's debt burden to be reduced to a level it considers "sustainable", but it faces resistance from reluctant European partners. It is unclear when International Monetary Fund officials will join the negotiations.
"Clearly it's a difficult path ahead, we're just at the beginning of the process," IMF spokesman Gerry Rice said. The Washington-based IMF wants Greece's debt burden to be reduced to a level it considers "sustainable", but it faces resistance from reluctant European partners.
Greek negotiators are likely to begin by meeting representatives from the European Commission, European Central Bank (ECB) and European Stability Mechanism (ESM) - the eurozone's main bailout fund. EU officials said on Friday that there were "logistical issues to solve" before high-level talks with Athens could begin, but that negotiations were taking place at a technical level.
The Greek team had been expected to meet top representatives from the European Commission, European Central Bank (ECB) and European Stability Mechanism (ESM) - the eurozone's main bailout fund.
Talks on the bailout package are expected to last a month.Talks on the bailout package are expected to last a month.
Tight capital controls, introduced at the end of June, remain in place to prevent a run on Greece's cash-strapped banks.Tight capital controls, introduced at the end of June, remain in place to prevent a run on Greece's cash-strapped banks.
'Difficult compromise''Difficult compromise'
PM Tsipras faced a backlash from MPs in his own left-wing Syriza party, during two parliamentary votes on austerity measures required by the creditors in order for negotiations to start.PM Tsipras faced a backlash from MPs in his own left-wing Syriza party, during two parliamentary votes on austerity measures required by the creditors in order for negotiations to start.
But he secured parliament's backing after a second crucial vote passed early on Thursday.But he secured parliament's backing after a second crucial vote passed early on Thursday.
The reforms debated this week included changes to Greek banking and an overhaul of the judiciary.The reforms debated this week included changes to Greek banking and an overhaul of the judiciary.
Greece debt crisisGreece debt crisis
Last week, Greece passed an initial set of austerity measures, including tax rises and pushing back the retirement age.Last week, Greece passed an initial set of austerity measures, including tax rises and pushing back the retirement age.
Mr Tsipras has said that he is not happy with the measures imposed by creditors but that his government was forced to choose a "difficult compromise" to avoid Greece exiting the eurozone.Mr Tsipras has said that he is not happy with the measures imposed by creditors but that his government was forced to choose a "difficult compromise" to avoid Greece exiting the eurozone.
A decision on more contentious measures - phasing out early retirement and tax rises for farmers - has been pushed back to August.A decision on more contentious measures - phasing out early retirement and tax rises for farmers - has been pushed back to August.
Demonstrations have taken place on the streets of Athens against the bailout deal and trade unions have taken strike action.Demonstrations have taken place on the streets of Athens against the bailout deal and trade unions have taken strike action.
On Wednesday, the ECB increased its cash lifeline to Greek banks by €900m - the second rise in a week.On Wednesday, the ECB increased its cash lifeline to Greek banks by €900m - the second rise in a week.
The IMF confirmed on Monday that Greece had cleared its overdue debt repayments of €2.05bn and was no longer in arrears.The IMF confirmed on Monday that Greece had cleared its overdue debt repayments of €2.05bn and was no longer in arrears.
The repayments, which included €4.2bn to the ECB, were made possible by a short-term EU loan of €7.16bn.The repayments, which included €4.2bn to the ECB, were made possible by a short-term EU loan of €7.16bn.
Greece's next major deadline is 20 August, when it must pay €3.2bn owed to the ECB, followed by a payment of €1.5bn to the IMF in September.Greece's next major deadline is 20 August, when it must pay €3.2bn owed to the ECB, followed by a payment of €1.5bn to the IMF in September.