×
GreekEnglish

×
  • Politics
  • Diaspora
  • World
  • Lifestyle
  • Travel
  • Culture
  • Sports
  • Cooking
Wednesday
21
Jan 2026
weather symbol
Athens 9°C
  • Home
  • Politics
  • Economy
  • World
  • Diaspora
  • Lifestyle
  • Travel
  • Culture
  • Sports
  • Mediterranean Cooking
  • Weather
Contact follow Protothema:
Powered by Cloudevo
> Politics

Sources: Details emerge on pending deal between Athens, institutional creditors

Leftist government maintains any deal won't include pension, wage cuts

Newsroom May 27 05:34

An increasingly cash-strapped and pressured Greek government on Wednesday hinted at the commencement of procedures for a “Staff Level Agreement” at a same-day Brussels Group session — a development that would signal the final stretch towards a deal with institutional creditors.

Government sources said Greek PM Alexis Tsipras continues to hold telephone contacts with top European and international leaders to “smooth over” obstacles and to finally achieve an extension of the second bailout package, which would free up 7.2 bln euros in favorable loans to the Greek state.

The same sources claimed the Greek side has not asked for an increase in the ELA ceiling, which is currently at 80.2 bln euros. A decision by the ECB’s board not to raise the ceiling was interpreted by some media as sending Athens a message not to expect more help on the liquidity front without a deal.

While a final text has still not been penned, some of the highlights leaked by the government on Wednesday include low primary budget surpluses for the next few years; no cuts in wages or pensions; what the leftist government calls “VAT reform”, and a “long-term solution for lessening the debt along with a developmental package.

>Related articles

Political dialogue between Greece-Türkiye: Bilateral relations at the centre of today’s meeting

Athens reluctant to take part in Trump’s Peace Council – Most Europeans leaning toward “no,” except Orban

Dendias: Greece–Israel alliance to counter drones and submarines – Katz warns Turkey, including over the Aegean

Missing are the exact figures, details and deadlines for the mostly sketchy, still, measures.

As far as the all-important social security front, what the government calls “reform” most likely means an end to early retirement — excluding individuals who have already enshrined their eligibility — as well as a further unification of Greece’s myriad of pension funds.

The same sources put the “blame” on the IMF for the ongoing failure to work out a deal, saying the Fund wants a comprehensive approach, and not a “fast and cursory job.” Conversely, the EU and ECB want an agreement by the end of May, or so the Greek side maintains.

Ask me anything

Explore related questions

> More Politics

Follow en.protothema.gr on Google News and be the first to know all the news

See all the latest News from Greece and the World, the moment they happen, at en.protothema.gr

> Latest Stories

Rescue crews battle for the missing people of the train tragedy in Spain – They set up cranes to lift the wagons – See videos

January 21, 2026

Thirio: Thomas Matsas’ new restaurant

January 21, 2026

German exports to the US down by 9.4% in the first eleven months of 2025

January 21, 2026

Trump unveils a file of “achievements” as he floats Venezuela move and claims peace successes

January 20, 2026

Generation X: The ‘contemporaries’ of PASOK, MTV, fast food, ONE, the drachma, the Euro, and adaptability to change

January 20, 2026

Pierrakakis: ‘We cannot face enormous geopolitical challenges and delay important institutional decisions’

January 20, 2026

Political dialogue between Greece-Türkiye: Bilateral relations at the centre of today’s meeting

January 20, 2026

European Parliament freezes ratification of the EU–US trade agreement

January 20, 2026
All News

>

Rescue crews battle for the missing people of the train tragedy in Spain – They set up cranes to lift the wagons – See videos

The ground was stabilized with technical interventions and embankments made directly at the site of the tragedy so that the cranes could work to determine if there are any victims trapped under the wagons

January 21, 2026

Thirio: Thomas Matsas’ new restaurant

January 21, 2026

German exports to the US down by 9.4% in the first eleven months of 2025

January 21, 2026

Trump unveils a file of “achievements” as he floats Venezuela move and claims peace successes

January 20, 2026

Generation X: The ‘contemporaries’ of PASOK, MTV, fast food, ONE, the drachma, the Euro, and adaptability to change

January 20, 2026
Homepage
PERSONAL DATA PROTECTION POLICY COOKIES POLICY TERM OF USE
Powered by Cloudevo
Copyright © 2026 Πρώτο Θέμα