Greece ex­pects fi­nal bailout deal by 18th

The Pak Banker - - COMPANIES/BOSS -

ATHENS: Greece ex­pects to wrap up its bailout deal with in­ter­na­tional cred­i­tors by Aug. 18, with the draft­ing of the agree­ment to be­gin Wed­nes­day, ac­cord­ing to media re­ports. The on­go­ing talks are reach­ing the end of the first phase, with the sec­ond phase to in­clude the de­tails of the fi­nal deal.

Greece's fi­nance and eco­nomic min­is­ters were ex­pected to meet with the in­ter­na­tional cred­i­tors later on Tues­day to talk about pri­va­ti­za­tion plans and bank re­cap­i­tal­iza­tion, Reuters re­ported. Greece has to re­pay 3.2 bil­lion eu­ros to the Euro­pean Cen­tral Bank on Aug. 20, but may need to be granted a bridge loan if the bailout ne­go­ti­a­tions are still on­go­ing.

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