European Union talks making 'progress' on Greek bailout
Talks to avert a financial meltdown in Greece have made "good progress", the European Commission announces despite widespread unsettlement.
Debt inspectors from the European Commission, European Central Bank, and International Monetary Fund will return to Athens next week for further negotiations.
The trio of inspectors suspended a review of Greece's austerity programme, which was needed to approve further bailout money.
The inspectors and Greek finance ministers held a teleconference late on Tuesday, which was followed by a press statement by the EC in which it said that the inspectors’ mission "is now expected to come back to Athens early next week to resume the review, including policy discussions.
"Good progress was made" at Tuesday's talks, the EC said, "and technical discussions will continue in Athens over the coming days."
The suspension of the inspectors’ full review of Greece's progress in meeting its budget reduction measures had unsettled the global financial markets for days.
The suspicion was that Greece was not making progress, jeopardising the release of an urgently-needed €8 billion (£6.9bn) tranche of aid.
Greece has been under pressure to plug a budget hole of more than €2 billion to meet the terms of a €110 billion bailout from the troika members.
The debt-laden country needs the rescue funds before it runs out of money to pay such things as public wages and pensions.
