MOSCOW (Sputnik) — On July 13, Eurozone leaders agreed on a new bailout plan for Athens that would guarantee the country up to $95 billion over the next three years in exchange for strict austerity measures.
Shortly after reaching the agreement, Athens and its lenders from Eurozone countries, the European Central Bank (ECB) and the International Monetary Fund (IMF) launched negotiations on the third bailout package.
On Saturday, the Greek side showed "an excellent collaboration" with its money lenders during negotiations, the newspaper reported.
The discussion of the proposals for the third package should end by Tuesday, then it would be sent to the Greek Parliament for approval, and on Friday the package could be confirmed by the EU finance ministers, according to the newspaper.
On August 20, Greece is due to make a 3.4 billion euro ($3.8 billion) repayment to the ECB. If Athens does not reach an agreement with its creditors before that date, it will most likely need a bridge loan.
Earlier this week, the European Commission said it was working hard to reach a comprehensive agreement on a third bailout package for Greece before the August 20 deadline.
Greece was particularly hard hit by the 2008-2009 economic crisis, and was offered massive bailout programs from the international lenders. The economic hardship, multiplied by the mismanagement of previous Greek governments, has resulted in Athens being saddled with a multibillion-dollar debt. The last Greek bailout program expired on June 30.
