Back
30 Sep 2013
Troika inspectors suspend bailout talks
FXstreet.com (Barcelona) - After a week of bailout talks with Greek officials EU, ECB and IMF inspectors left Athens on Sunday, suspending the negotiations for the time being. They said in a statement that they have “made good progress” and that they would resume the talks soon.
The review was halted “to allow completion of technical work.” When resumed, it is expected to continue for approximately one more month and it will be focused on the progress Greece has made in implementing the required structural reforms. The international lenders will also try to work out the size of the third bailout for Greece as well as its conditions.
Greek growth and budget projections are also to be revised. According to Greek senior officials, currently the economy is expected to contract by 4% in 2013, less then previously forecast.
The review was halted “to allow completion of technical work.” When resumed, it is expected to continue for approximately one more month and it will be focused on the progress Greece has made in implementing the required structural reforms. The international lenders will also try to work out the size of the third bailout for Greece as well as its conditions.
Greek growth and budget projections are also to be revised. According to Greek senior officials, currently the economy is expected to contract by 4% in 2013, less then previously forecast.