Greece is exiting the painful bailout programs this summer after eight difficult years of acute debt crisis, wiser and with good prospects for the future which can be constructed on the foundations of a new growth model, Greek Economy and Development Deputy Minister Stergios Pitsiorlas told Xinhua.
Bailout negotiators have returned to Greece to try and reach a deal by the end of the year on the terms for the next loan payout, as the debt-plagued country prepares to end eight years of rescue funding programs next summer.
Greece's government said members of the International Monetary Fund's executive are in disagreement on bailout measures required for the debt-plagued country, complicating efforts to break an impasse in talks.
Michel Sapin, France’s finance minister, warned that the ‘window of opportunity’ for a deal on the next stages of Greece’s bailout program was closing, as a ministerial meeting in Brussels failed to make headway in resolving a split between Athens and the International Monetary Fund.
European officials have agreed to unlock €10.3 billion in bailout money for Greece as the International Monetary Fund made a significant climbdown in its demand for upfront debt relief for the recession-hit country.