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GreekReporter.comGreek NewsEconomyCreditors' Represenatives in Athens Continue Talks But Timely Deal Uncertain

Creditors' Represenatives in Athens Continue Talks But Timely Deal Uncertain

troikaThe creditors’ representatives took over negotiations from technical teams in Athens but it is uncertain whether Greece will secure a bailout agreement by August 20.
With SYRIZA struggling for unity as almost one third of MPs are against the proposed bailout deal, Prime Minister Alexis Tsipras is pulling hair to keep the party dissidents in line while maintaining his pro-Europe profile. SYRIZA’s Left Platform calls on Tsipras to stop negotiations and pull Greece out of the Eurozone.
Meanwhile, creditors seem ready to demand more unpopular measures implemented as Greece’s fiscal gap is getting wider after capital controls have caused the Greek economy to stall.
The creditors’ representatives visited the General Secretariat of Public Revenue on Wednesday to audit revenue. On Tuesday, they visited the General Accounting Office in order to audit state debt to third parties. They will also visit pertinent Ministries to monitor the progress of reforms.
According to Greek officials, technical talks will be completed by Saturday and the representatives will make a general report on what measures Greece needs to take in order to continue negotiations toward a bailout deal and also estimate the amount of the loan needed. The crucial deadline for Greece is August 20 when it has to pay a €3.2-billion state bond to the European Central Bank (ECB).
European Commission spokesperson Mina Andreeva put on the table the possibility that further reforms might be needed in order for the European Stability Mechanism (ESM) to disburse the first tranche of bailout cash. Additional reforms will be needed from Greece in order to build more trust with creditors. The Greek government, however, opposes further austerity measures.

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