Tuesday, August 4, 2015

Greece and lenders strike upbeat tone, deal seen on bailout

August 4, 2015

Both Greece and its lenders said on Tuesday they were optimistic they could broker a deal within days on a multi-billion euro bailout, striking a surprisingly upbeat tone on a process previously fraught with bitterness.

A bailout worth up to 86 billion euros ($94.5 billion) must be settled by Aug. 20 -- or a second bridge loan agreed -- if Greece is to pay off debt of 3.5 billion euros to the European Central Bank that matures on that day.

Wrapping up a day of talks in Athens, Greek Finance Minister Euclid Tsakalotos said negotiations were going better than expected. In Brussels, a Commission official said they were 'encouraged' by progress.

"We are moving in the right direction and intense work is continuing," Commission spokeswoman Mina Andreeva told Reuters.


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