EU, Greece reach staff-level deal on bailout review

EU institutions and the Greek government have reached a staff-level agreement to complete the fourth review of the European Stability Mechanism program, the European Commission said on Saturday.

“The mission of Institutions to Athens has concluded. A staff-level agreement has been reached on a package of reforms required for the successful completion of the 4th review of the European Stability Mechanism program. This agreement will be presented to the Eurogroup of 24 May 2018,” the European Commission said in a statement.

The document adds that the Greek authorities “aim to implement these measures as swiftly as possible in advance of the Eurogroup of 21 June 2018.”

“To this end, intensive exchanges between the Institutions and the Greek authorities will continue in the coming weeks,” the document reads.

The third Greek bailout package of up to 80 billion euro, officially known as the Third Economic Adjustment Programme for Greece, was adopted in 2015 and is due to expire this August.


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