Greece, Creditors Start Crafting Staff Level Accord: Official

Brussels Group of Greek officials, representatives of creditor institutions to start drafting Staff Level Agreement today, a Greek govt official says in e-mail to reporters.

  • Agreement to envisage low primary budget surpluses, no recessionary measures, sales tax overhaul, medium-term agreement on Greek debt relief, growth package
  • Agreement will not include additional EU1.8b in measures
  • Agreement will also envisage pension system reform, limiting early retirement, unification of pension funds; no pension cuts included
  • Disagreement between creditor institutions remains a problem; if it wasn’t for the IMF, agreement would have been reached by now
  • Creditor institutions should assume historical responsibility toward Greece, common European vision
  • Greek PM Alexis Tsipras will be in constant contact with other leaders, to facilitate reaching agreement
  • Greek deposits, financial system are safe
  • NOTE: Official asked not to be named in line with policy
  • NOTE Earlier: Greece Said Likely to Miss May Deal Deadline as Talks Stall Link

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