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Situation in Greece

Negotiations with foreign creditors on third bailout package for Greece starts in Athens

Greece plans to complete negotiations by August 12 so that it can receive the first tranche in the framework of the new bailout package already on August 20

Athens AP Photo/Petros Giannakouris

Athens

© AP Photo/Petros Giannakouris

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Greece set to strike deal with creditors by August 20 — government

ATHENS, July 28. /TASS/. The expert round of negotiations with international creditors on third bailout package for Greece worth €86 billion kicks off in Athens on Tuesday.

A source in Greece’s finance ministry told TASS that "first contacts with representatives of the mission [of international creditors] will be introductory." The talks with the European Union, European Central Bank and International Monetary Fund on the European Stability Mechanism will focus on financial issues, pensions, labor relations and market liberalization.

Greece wants to launch talks on the new bailout agreement as soon as possible, fearing that creditors may introduce new demands on austerity measures. The situation in the Greek economy has been deteriorating since capital controls were established a month ago; interbank lending market was frozen and Athens Stock Exchange suspended.

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The Foundation for Economic and Industrial Research released a report stating that the Greek economy will fall by 2.9% of GDP this year instead of growing by 2-2.5%. The Hellenic Statistic Authority ELSTAT registered that economic growth in the country slowed down by 0.2% in the first quarter of 2015. The Greek authorities understand that they cannot demonstrate budget surplus in the conditions of falling economy, and creditors may demand new measures from Athens to cover the lack of state revenue.

Greece plans to complete negotiations by August 12 so that it can receive the first tranche in the framework of the new bailout package already on August 20. Athens will spend the first tranche on repaying its almost €3.2 billion debt to the European Central Bank and €1.5 billion debt to the International Monetary Fund in September.

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Moscow demands international organizations condemn killing of Russian war correspondent

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FACTBOX: Collective Security Treaty Organization

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Russian industrial producers’ prices up 2.4% in March — statistics

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Russian defense chief checks implementation of orders to develop drones

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Turkish president, Hamas political leader discuss Gaza settlement

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Ukrainian national detained at Russian-Georgian border for suspected espionage

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Press review: Biden backs aid to Israel, Ukraine and Russia assets giving West legal fits

Top stories from the Russian press on Friday, April 19th

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Hungarians in western Ukraine should get their rights back, Budapest says

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Putin signs law on holding World Friendship Games

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Security guarantees on Ukraine did not apply to Crimea, Donbass — Lavrov

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Three Ukrainian soldiers swim across Dnieper to surrender to Russian troops — governor

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Russia won’t allow NATO to move closer in Ukraine — Lavrov

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Ukrainian trace obvious in Crocus City Hall attack — Russian prosecutor general

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Russian military closely monitors all Ukrainian 'novelties' — Kremlin on UAVs

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French president says creating Israeli-type air defense network for Ukraine impossible

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Russia’s defense chief inspects production of tanks, flamethrowers at Siberian enterprise

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China’s Russian oil imports rise by 13% in first quarter of 2024 — customs

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Russian air defenses down Ukrainian drone over Belgorod Region

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More explosions reported across Ukraine

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Lavrov speaks of West’s agony, Russia’s approach to any future talks with Kiev

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Ukrainians abroad storming embassies to avoid mobilization, Russian diplomat says

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Russia not to go for settlement on Ukraine based on 'Zelensky formula' — Lavrov

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