16:29 GMT26 September 2020
Listen Live
    Business
    Get short URL
    Greece's Gordian Knot: Syriza Tackles Austerity (404)
    0 04
    Subscribe

    The Greek government will submit Saturday its counter-proposals on the bailout talks to its lenders, a source in the Greek government told journalists on Friday.

    ATHENS (Sputnik) — Greece is currently in talks with its international creditors to secure additional financial aid before the current bailout plan expires on June 30.

    "The Greek side is ready to submit counter-proposals to overcome the remaining differences, as it was agreed in Brussels at the meeting between [Greek] prime minister and the leaders of Germany and France, as well as head of the European Commission [Jean-Claude] Juncker," the source said.

    The source added that Greek Prime Minister Alexis Tsipras' representatives would meet with representatives of the lenders on Saturday in Brussels.

    According to the source, the two sides are "closer to an agreement than ever."

    The source stressed, however, that in order to reach the agreement, the other side had to demonstrate political will.

    The Greek bailout talks hit another roadblock on Thursday when one of its three key lenders, the International Monetary Fund (IMF), quit the negotiations over alleged lack of progress.

    Greece's total debt is currently estimated at $350 billion, with $270 billion owed to the three of its major creditors — the European Union, the European Central Bank and the IMF.

    Topic:
    Greece's Gordian Knot: Syriza Tackles Austerity (404)

    Related:

    Most Germans Oppose New Concessions to Greece as Bailout Talks Continue
    Greece Hopes to Sign Framework for Gas Pipeline Deal With Russia in June
    EC President Tusk Accuses Greece of 'Gambling' Amid Bailout Talks
    Tags:
    European Union, economy, bailout program, debt, International Monetary Fund, Eurozone, Alexis Tsipras, Greece
    Community standardsDiscussion