Greece has completed talks with the European authorities and the International Monetary Fund on the next 8 billion euro tranche out of a 100 billion euro bailout, Finance Minister Evangelos Venizelos said on Monday.
"After a long series of talks and meetings with representatives of the troika, we have concluded the circle of scheduled meetings and the mission is expected to be concluded by tomorrow," Venizelos told reporters.
The troika of international lenders comprising the European Central Bank, the European Commission, and the IMF said last week they would decide on the next bailout by mid-October, fearing Greece might default on its sovereign debt without the cash as soon as the second half of the month. Many experts expect Greece to default on its obligations in the next six to twelve months.
Expectations of a Greek default have depressed global equity markets in the past few weeks. Greece is sticking to tight austerity measures, including mass public sector redundancies and budget cuts, to avoid default and receive bailout funds form the European Union and the IMF.
