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Daily Digit: Greece bailout talks resume

Sunday, Jun 30, 2013 - 01:07

July 1 - Greece and its international lenders are due to resume talks to unlock 8.1 billion euros ($10.5 billion) of rescue loans after a two-week break during which the government almost collapsed over redundancies at state broadcaster ERT. Hayley Platt reports.

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8.1 billion euros is today's daily digit in Europe - the next instalment of bailout cash Greece hopes to secure. Talks to unlock the funds broke down two weeks ago when a political crisis broke out after the closure of state broadcaster ERT. International lenders are now back to resume discussions and the stakes are high. Greece is behind on its schedule to shed thousands of public sector jobs. And the troika may refuse to pay in one go - breaking the money into instalments. If an agreement isn't reached the IMF may also have to withdraw from the rescue to avoid breaking its own rules. Prime Minister Antonis Samaras appointed two reformers in a cabinet reshuffle last week. He hopes that will help secure a swift release of funds before it has to redeem 2.2 billion euros of bonds next month. The 8.1 billion euros will be the last big cash injection before the 240-billion-euro bailout expires at the end of next year.

Daily Digit: Greece bailout talks resume

Sunday, Jun 30, 2013 - 01:07

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