Troika to restart talks with Greece

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Greece national flag1 Reuters File photo.

Athens - Stalled negotiations between Greece and its international creditors over the cash-strapped country's austerity plan will resume on Monday.

Greece aims to receive a positive recommendation from the so-called troika - the European Commission, European Central Bank and International Monetary Fund (IMF) - by March 7 so that Athens can receive its next bailout disbursements.

Negotiations between the Greek authorities and the troika have been stalled since September on several issues, most notably the size of this year's projected fiscal gap, and reaching a deal on the next round of labor market reforms and spending cuts.

Since 2010 the country has received 240 billion euros (330 billion dollars) in international loans that come with strict austerity and reform requirements attached.

The eurozone's rescue fund still has 10.1 billion euros available, with the IMF also contributing to the emergency bailout.

The current Greek bailout programme is due to end in late 2014, but there has been speculation that Athens will need a third rescue package. - Sapa-dpa



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