Wednesday 7 December 2016

Troika lands in Greece to pave way for bailout


Published 12/12/2011 | 05:00

Inspectors for Greece's international lenders and private creditors will kick off a round of meetings with the government today to prepare for a new €130bn bailout plan and bond-swap scheme to keep the country afloat.

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Greece narrowly averted bankruptcy last month after foreign lenders agreed to release an €8bn tranche of aid, but it remains at risk of ending the year with a deeper-than-expected hole in its finances as a recession hits targeted tax revenue.

The EU, IMF and ECB inspectors -- known as the troika -- begin their visit to Athens with a focus on preparing the bailout agreed in October, and assessing the impact of a debt-swap plan on banks.

Irish Independent

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