Greece closer to bailout deal – Greek Finance Minister

Christine Lagarde, IMF managing director and Euclid Tsakalotos, Greece's finance minister

Greece only has minor details to be ironed out with its creditors to reach a bailout deal, according to Greek finance minister Euclid Tsakalotos.

“Two or three small issues,” are pending with lenders, Reuters quoted Mr Tsakalotos as saying.

An agreement is needed keep the country in the eurozone and avert bankruptcy.

Earlier, Reuters quoted a Greek official as saying an agreement had been reached in talks between Greece and its lenders in Athens.

Greece has agreed the function of a new independent privatisation fund, and how non-performing bank loans will be administered, according to the official.

Both issues had been key sticking points in negotiations.
“Finally, we have white smoke,” the official was quoted as saying.

source: citifmonline.com