Greece Braces For Troika Scrutiny And Creditor Talks
Inspectors for Greece's international lenders and private creditors kick off a round of meetings with the government on Monday to prepare for a new 130-billion euro (£111 billion) bailout plan and bond swap scheme to keep the country afloat, Reuters reported. Greece narrowly averted bankruptcy this month after foreign lenders agreed to release an 8-billion euro tranche of aid, but 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 on Monday with a focus on preparing the bailout agreed in October, and assessing the impact of a debt swap plan on banks. Read more.