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Experts from Greece and creditors drafting loan deal

27 May 2015, 16:04 CET
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(ATHENS) - Technical experts representing Greece and its creditors are to start drafting Wednesday a long-awaited agreement that would release much needed bailout loans for the struggling eurozone country, a Greek government source said.

"The process of drafting the staff-level agreements begins in Brussels today," the source said.

This is the closest that Greece and its creditors have come to a deal to unlock 7.2 billion euros ($7.8 billion) of bailout loan money in four months of talks.

"The Greek Prime Minister will be in constant communication with other leaders to facilitate a deal," the official added.

The deal framework will include low primary surplus targets for Greece, VAT reform, a pension system overhaul and debt relief, the source said.

However, Athens insists there will be no further cuts to salaries and pensions.


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