Troika returns to Greece to pave bailout road
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Inspectors from the EU, International Monetary Fund and European Central Bank will hold talks with Greece on Monday to make preparations for the bundle of rescue measures, which was agreed upon by EU leaders and creditors back in October. ­The EU, ECB and IMF – collectively referred to as the “troika” – will emphasis on planning situations for the 130-billion Euro bailout program solidified on October 27. They will largely assess Greece’s progress with reforms, then meet with the banks that agreed to compose off 50 per cent of Greek debt in return for new paper. The troika will also assess the effect of the debt swap on Greek banks, who are amid significant holders of the nation's debt. " The troika will meet with the finance minister on Monday, kicking off talks on the new system, which is the priority. The crew will be here for a week and meet other ministers as properly ," a source in the Ministry of Finance advised Reuters. Greece is due to get its 1st 8 billion-Euro tranche of the bailout in a handful of days. Even though the prospect of the bailout aided Athens stay away from bankruptcy, the country’s economic system is nevertheless contracting – and hazards are higher that it will miss its 9 percent deficit target this 12 months.