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Negotiations with lenders to continue this afternoon

Negotiations between the government and the representatives of Greece's lenders are due to resume at 4 in the afternoon – yesterday’s talks ended in the early hours with progress being made on the issue of taxes as well as the new Privatizations Fund.

The two sides have not yet been able to “bridge” their differences on the issue of the non performing loans.

According to reports in the Greek media, the IMF is asking for a reduction of auxiliary pensions up to 700 million euros while representatives of the European institutions are asking for a reduction of up to 500 million euros.

Economy Minister Giorgos Stathakis has stated that “negotiations with lenders should be concluded today”.

German Finance Minister Wolfgang Schaeuble said on German television that he was “quite optimistic” lenders would find a solution on Greece in the next few weeks but he added that this would not include debt relief for the troubled country.