15:29 | 18/11/2015 Global Economy
Greece and its creditors have agreed on "many" of the issues that had to be resolved for Athens to receive more bailout funds but will hold more talks in the coming days, Eurogroup chief Jeroen Dijsselbloem said on Monday.
Eurogroup President Jeroen Dijsselbloem (left) and Luxembourg's Finance Minister Pierre Gramegna during an EU finance ministers meeting in Brussels, Belgium, November 10, 2015 – Photo: Reuters
Dijsselbloem tweeted "good progress in (the) talks," adding the two sides had reached "agreement on many issues" ahead of more talks on Tuesday. The tweet came after talks between Greece and its international lenders in Athens yesterday night, which resumed briefly this morning. Greece in July accepted a three-year, 86-billion-euro.
EU bailout which saved it from crashing out of the eurozone, but came with strict conditions. It received a first tranche of 13 billion euros in bailout funds in August, and had been expecting the disbursement of another two billion in October. But the eurozone withheld the funds until resolving the remaining sticking points in the bailout programme.
Another 10 billion will be spent on the recapitalisation of the main Greek banks, a process Athens wants to complete before new European rescue rules take effect at the beginning of next year./.