The technical teams of the Institutions are set to return to Athens on Monday, in preparation of the negotiations of the new bailout agreement with Prime Minister Alexis Tsipras, which may last up to four weeks.
The purpose of the visit is to determine the present condition of the banks and economy, in order to compose the new loan agreement and new program as soon as possible. One of the conditions set by the IMF, in order to carry on with the negotiation, is to gain access to essential Ministries and the General Accounting Office.
Meanwhile, efforts are made to find a way to pay make a payment of 3.5 billion euros towards the European Central Bank, which holds bonds that mature on Monday, 20th of July.
After the Eurogroup and Ecofin failed to agree upon a solution in the past couple days, the Euro Working Group will examine technical solutions to finance Greece in the meantime, without excluding the possibility of bilateral loans.
