Greece looks to clinch last-gasp deal with troika before critical Eurogroup meeting

The July 8 2013 Eurogroup meeting in Brussels is crucial for Greece as it is expected to decide whether or not the next tranche of the country’s bailout loan (EUR 8.1 bln) will be disbursed in full.

The discussions between Greece and its international lenders have “a reasonable chance” of resulting in an agreement that will be presented to euro-area finance ministers, EU Economic and Monetary Affairs Commissioner Olli Rehn said Sunday.

The decision will be based on the troika’s assessment of progress made by the Greek government on its adjustment program. Seven days of talks ended Sunday in Athens between ECB, EU and IMF officials with the Greek Prime Minister and several ministers. The two sides reportedly agreed on reforms that Athens will have to push through over the next few months.

For the full story, please click here

(Photo: Clive Leviev-Sawyer)