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> Economy

Judgment Day: Eurogroup meeting on Greece likely to bring deal

July 11 schedule: EWG and Eurogroup meetings, deal likely says Reuters

Newsroom July 11 11:13

Eurozone finance ministers meet on July 11 in Brussels to discuss the Greek government’s request for an aid program. The meeting is held in the wake of a vote on the Greek proposals by Greek Parliament where 251 lawmakers gave Prime Minister Alexis Tsipras crucial approval for the 13 billion euros worth of austerity measures to obtain a third bailout package for Greece.

This comes just a week after the people resoundingly voted against these proposals on a July 5 referendum called for by Tsipras.

Seventeen members of the ruling Radical Left Coalition (SYRIZA) government did not back the plan. These include Parliament Speaker Zoe Konstantopoulou and head of the Left Platform, Energy Minister Panagiotis Lafazanis. The deal sent to creditors includes tax rises and pension reforms that go against the pledges he made when he received the people’s mandate on January 25 that were reaffirmed by a landslide ‘No’ victory in the referendum.

Reuters cites eurozone sources as stating that bailout talks will take place after the European Commission, European Central Bank and International Monetary Fund reviewed the reforms, stating that they were a sufficient basis to start negotiations.

July 11 schedule:
0800 GMT Euro Working Group of EZ ministers’ advisers to examine economic reform for Greece (4 p.m. Greek time)
1300 GMT Eurogroup in Brussels to decide on Athens’ request for help from the European Stability Mechanism bailout fund

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