EU and IMF begin bailout talks with Greece

&Tab;&Tab;<div class&equals;"wpcnt">&NewLine;&Tab;&Tab;&Tab;<div class&equals;"wpa">&NewLine;&Tab;&Tab;&Tab;&Tab;<span class&equals;"wpa-about">Advertisements<&sol;span>&NewLine;&Tab;&Tab;&Tab;&Tab;<div class&equals;"u top&lowbar;amp">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;<amp-ad width&equals;"300" height&equals;"265"&NewLine;&Tab;&Tab; type&equals;"pubmine"&NewLine;&Tab;&Tab; data-siteid&equals;"111265417"&NewLine;&Tab;&Tab; data-section&equals;"2">&NewLine;&Tab;&Tab;<&sol;amp-ad>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;<&sol;div><p>European Union &lpar;EU&rpar; and International Monetary Fund &lpar;IMF&rpar; negotiators have begun talks with Greece to hammer out details of a third international bailout worth €85bn&period;<&sol;p>&NewLine;<p>Greece needs the money to keep paying its debts and remain in the eurozone&period;<&sol;p>&NewLine;<p>The envoys are to meet Greek finance minister Euclid Tsakalotos following talks during the week in Athens between lower-level officials on reforming the tax system and labour market regulations&period;<&sol;p>&NewLine;<p>The bailout talks must be concluded before August 20&comma; when a debt repayment to the European Central Bank &lpar;ECB&rpar; worth more than €3bn is due&period;<&sol;p>&NewLine;<p>Mr Tsakalotos will meet officials from the IMF&comma; European Commission&comma; ECB and European Stability Mechanism&period;<&sol;p>&NewLine;<p>It comes hours after Prime Minister Alexis Tsipras defeated a bid by dissenters in his left-wing Syriza party to push for an end to bailout negotiations and seek a return to the old national currency&comma; the drachma&period;<&sol;p>&NewLine;<p>The party’s governing central committee early on Friday backed a proposal by Mr Tsipras to hold an emergency party conference in September&comma; after the talks have been concluded&period;<&sol;p>&NewLine;<p>Dissenters had sought a conference earlier&comma; pressing the government to abandon the negotiations&period;<&sol;p>&NewLine;<p>Mr Tsipras effectively lost his majority in parliament in a vote three weeks ago&comma; when nearly one-fourth of Syriza’s lawmakers refused to back new austerity measures&period; Pro-European Union opposition parties were left to save the bill and have continued to prop up his government&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;We have to agree that we can’t go on this way&comma;” Mr Tsipras told the committee members during a dramatic 12-hour meeting&period; He added that &OpenCurlyDoubleQuote;the absurdity of this strange and unprecedented dualism” within the party must stop&period;<&sol;p>&NewLine;<p>Far-left dissenters argue that Syriza has abandoned its principles over the past six months under the country’s popular prime minister&period; They have openly voiced support for Greece to turn its back on the euro as its national currency&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;This country no long has democracy&comma; but a peculiar type of totalitarianism &&num;8211&semi; a dictatorship of the euro&comma;” prominent dissenter Panagiotis Lafazanis said&period;<&sol;p>&NewLine;<p>The third bailout will include a new punishing round of austerity measures heaped on a country reeling from a six-year recession and more than 25&percnt; unemployment&period;<&sol;p>&NewLine;<p>Also on Friday&comma; Mr Tsipras is due to appear in parliament to answer questions from the opposition about contingency plans to adopt a parallel payment system that could have facilitated a euro exit&period;<&sol;p>&NewLine;&Tab;&Tab;&Tab;<div style&equals;"padding-bottom&colon;15px&semi;" class&equals;"wordads-tag" data-slot-type&equals;"belowpost">&NewLine;&Tab;&Tab;&Tab;&Tab;<div id&equals;"atatags-dynamic-belowpost-68cd4645a4365">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;<script type&equals;"text&sol;javascript">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;getAdSnippetCallback &equals; function &lpar;&rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;if &lpar; false &equals;&equals;&equals; &lpar; window&period;isWatlV1 &quest;&quest; false &rpar; &rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&sol;&sol; Use Aditude scripts&period;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;tudeMappings &equals; 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