Greece agrees new cuts as troika leaves

City A.M. Reporter
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CE has made some progress in finding budget cuts needed to continue its bailout programme but not all work is done and international inspectors will return next month for a final verdict, officials said yesterday.

Inspectors from the International Monetary Fund, the European Commission and the European Central Bank – known as the troika – concluded a visit to Greece yesterday saying the talks with the new coalition government were productive.

“Talks went well, we made good progress. We will take a break and come back in early September,” the IMF’s mission chief for Greece Poul Thomsen said after a meeting at the finance ministry. Greece pledged a series of measures to convince international lenders to keep Athens hooked to a €130bn (£103bn) lifeline and avoid bankruptcy.