ECONOMY

Greek bailout talks break off for Easter, due to resume on April 2

greek-bailout-talks-break-off-for-easter-due-to-resume-on-april-2

Discussions over Greece’s bailout review are to pause over Easter and resume at the beginning of April, it was confirmed on Sunday.

Labor Minister Giorgos Katrougalos met with the mission chiefs from the four institutions monitoring Greece’s bailout in Athens to discuss pension reforms, one of several key issues that need to be settled before the quartet of creditors can release further bailout funds.

However, there was no final agreement on how to reduce pension costs on Sunday, meaning that along with an overhaul of Greece’s tax system and the sale of non-performing loans (NPLs), this will have to be settled next month.

Deliberations will continue at a technical level until Thursday. But the mission chiefs are expected to leave on Sunday and return to Athens on April 2.

The aim is for Greece and its lenders to reach an agreement by April 11, when the Euro Working Group, which advises eurozone finance ministers, is due to meet.