Greece bailout talks to start today

Update: 2015-07-27 23:28 GMT
Talks between the Greek government and international creditors on a third bailout package for Greece are expected to begin on Monday, a state minister said.

Meetings with officials from the European Commission, European Central Bank (ECB) and the International Monetary Fund (IMF), which had been expected to begin on Friday, were delayed by logistical issues, including the location of talks and security.

Referring to the visit here of EU, IMF and ECB mission chiefs for talks on a fresh loan for Greece, state minister Alekos Flambouraris told reporters here on Saturday that “if the agreement says that they should visit a ministry, we have to accept that”.

While EU negotiators arrived on Friday, there is widespread feeling here about inspection visits by lenders as a violation of Greek sovereignty.

The move comes after Greek MPs approved tough new conditions set by the EU lenders last week that included an increase in Value Added Tax (VAT) and pushing back the retirement age.

Greece’s next major deadline is August 20, when it must pay 3.2 billion euros ($3.5 billion) owed to the ECB, followed by a payment of 1.5 billion euros ($1.6 billion) to the IMF in September.

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