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An elderly man leaves a branch of the National Bank of Greece in Athens. Associated Press
Neverending Story

Greece latest: Government wants final deal by 20 August

Politicians are due to vote on a second batch of reforms tomorrow in a fresh test of Prime Minister Alexis Tsipras’ authority.

THE GREEK GOVERNMENT has said it wants to see a final deal on its international bailout hammered out by August 20, as it presented parliament with more draft legislation on the cash-for-reforms agreement.

Lawmakers are due to vote on a second batch of reforms tomorrow in a fresh test of Prime Minister Alexis Tsipras’ authority.

The recently-elected leader suffered a major rebellion in his radical-left party Syriza during a vote on a first tranche of bailout measures last week.

After parliament has voted on the second bill — which must pass if Greece is to receive the bailout worth up to €86 billion over three years — the government “will immediately resume negotiations with the (lender) institutions, EU, ECB and IMF, which should take until August 20 at the latest,” a government spokeswoman said.

August 20 is the deadline for debt-crippled Greece to pay €3.2 billion owed to the European Central Bank, ahead of a payment of €1.5 billion euros owed to the International Monetary Fund in September.

The Greek government received a boost today when Standard & Poor’s raised its credit rating by two notches to CCC+ from CCC-, still in junk territory but a step in the right direction.

© AFP 2015.

Read: Greek banks reopen as citizens face massive price hikes >

Read: Greek parliament passes sweeping austerity bill in advance of third bailout >

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