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Bailout creditors, Greece to restart reform talks

[November 05, 2013]  ATHENS, Greece (AP) -- Representatives of Greece's bailout creditors are in Athens to restart negotiations on the course of austerity measures and reforms.

Officials from the European Commission, the European Central Bank and the International Monetary Fund are scheduled to meet senior Greek officials Tuesday.

Greece has survived on international rescue loans since dismal financial stewardship and loss of investor confidence brought it near bankruptcy in 2010.

In exchange, the country implemented spending cuts and repeatedly raised taxes. Talks with creditors, which had been suspended for a month, are expected to focus on the country's 2014 budget and implementation of agreed reforms. At stake is the next, 1 billion-euro ($1.35 billion) installment of rescue loans.

The two sides disagree over savings needed in coming years. Greek unions have called a general strike Wednesday.

[Associated Press]

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