Greece’s creditors want to see it agree and implement tax hikes, spending cuts and economic reforms in return for a third bailout.
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Talks on tying up a new bailout deal for Greece failed to start Friday as had been expected, with officials blaming security worries for delaying the negotiations with international creditors who are detested by many Greeks.Greek government officials had said this week that the talks on the third bailout program worth up to 86 billion euros ($94 billion) would start in Athens Friday.But representatives of Greece's creditor institutions – the European Commission, the European Central Bank and IMF – said they could not begin until the right location is found, given the talks' sensitivity and the wide public anger about austerity policies imposed under the first two bailouts.The government of leftist Prime Minister Alexis Tsipras held five months of acrimonious talks with the creditors before they finally offered to start talks on a new bailout – and only after the government missed a debt repayment to the International Monetary Fund and had to close local banks for three weeks.
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