Three representatives of international creditors arrive in Greece to assess the benefits of its huge debts.
They have to decide whether Greece has the right to receive 31.5 billion euros - the last tranche of the agreed aid package in March to 130 billion euros.
Athens behind the original plan to scale back spending and debt, as the country's economy is shrinking faster than predicted.
Greek prime minister, is expected to push for a longer period of repayment of loans.
The three creditors include the International Monetary Fund (IMF), the European Central Bank (ECB) and the European Commission.
The IMF said that "supports Greece in overcoming economic difficulties" and will work with the country to get her back "on track".
However, over the weekend there were suggestions that the IMF may deny Greece for further assistance.
Additional 50 billion
Greece has promised to cut the budget deficit to below 3% of its gross domestic product (GDP) by the end of 2014.
Late last year, Greece's budget deficit reached 9% of GDP.
Successive governments of Greece managed to cut public spending by 17 billion euros. According to published official data on Monday, it will reduce the overall debt of the country with a 160% to 132% of GDP.
In accordance with the terms of three international lenders, in 2020 Greece must reduce its debt to 120% of GDP.
However, to achieve this, the Prime Minister Antonis Samaras to find another 12 billion euros of tax increases and the sale of state assets, such as the loss-making railways.
Bad that Greece's economy shrinking faster than expected. Bank of Greece expects Greece's GDP will be reduced this year by 5% - this is the most serious recession since the 1930's.
As a result, economists estimate Greece may require third package of aid worth up to 50 billion euros.August payment
The work of three creditors and the Greek government to develop a credible plan to improve the financial situation of political instability has slowed as a result of which the country had some times be a general election, and the major parties tried to form a coalition government.
European Commission representative said that the trio would not be able to publish a decision on the allocation of the last tranche of 31.5 billion euros to September.
"The Commission is confident that the decision on the next payment will be made in the near future, although this is unlikely to happen before September," - he said.
Greece continues to be in a difficult situation. By August 20, she had to pay 3.8 billion euros the ECB debt.
ECB could still intervene to allocate Greece temporary assistance.
In September, Greece will have to pay the new amount in debt, otherwise the country may be on the verge of bankruptcy.
If Greece defaulted on its outstanding loans, it is, in turn, can make it out of the euro zone and return to the drachma.
They have to decide whether Greece has the right to receive 31.5 billion euros - the last tranche of the agreed aid package in March to 130 billion euros.
Athens behind the original plan to scale back spending and debt, as the country's economy is shrinking faster than predicted.
Greek prime minister, is expected to push for a longer period of repayment of loans.
The three creditors include the International Monetary Fund (IMF), the European Central Bank (ECB) and the European Commission.
The IMF said that "supports Greece in overcoming economic difficulties" and will work with the country to get her back "on track".
However, over the weekend there were suggestions that the IMF may deny Greece for further assistance.
Additional 50 billion
Greece has promised to cut the budget deficit to below 3% of its gross domestic product (GDP) by the end of 2014.
Late last year, Greece's budget deficit reached 9% of GDP.
Successive governments of Greece managed to cut public spending by 17 billion euros. According to published official data on Monday, it will reduce the overall debt of the country with a 160% to 132% of GDP.
In accordance with the terms of three international lenders, in 2020 Greece must reduce its debt to 120% of GDP.
However, to achieve this, the Prime Minister Antonis Samaras to find another 12 billion euros of tax increases and the sale of state assets, such as the loss-making railways.
Bad that Greece's economy shrinking faster than expected. Bank of Greece expects Greece's GDP will be reduced this year by 5% - this is the most serious recession since the 1930's.
As a result, economists estimate Greece may require third package of aid worth up to 50 billion euros.August payment
The work of three creditors and the Greek government to develop a credible plan to improve the financial situation of political instability has slowed as a result of which the country had some times be a general election, and the major parties tried to form a coalition government.
European Commission representative said that the trio would not be able to publish a decision on the allocation of the last tranche of 31.5 billion euros to September.
"The Commission is confident that the decision on the next payment will be made in the near future, although this is unlikely to happen before September," - he said.
Greece continues to be in a difficult situation. By August 20, she had to pay 3.8 billion euros the ECB debt.
ECB could still intervene to allocate Greece temporary assistance.
In September, Greece will have to pay the new amount in debt, otherwise the country may be on the verge of bankruptcy.
If Greece defaulted on its outstanding loans, it is, in turn, can make it out of the euro zone and return to the drachma.
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