Greek Tourism Minister Says 3rd Bailout Plan Offers ‘Milder Adjustment’

Minister of Economy, Infrastructure, Shipping and Tourism Giorgos Stathakis. Photo © GTP

A third bailout for Greece, valued at 86 billion euros, seems to be in the works, the Greek government said on Tuesday, but European officials are still not clarifying whether the deal will go through.

Despite admitting that the new agreement with lenders has stringent measures, Economy, Infrastructure, Shipping and Tourism Minister Giorgos Stathakis told Mega television that it will bring “milder adjustment”, adding that the third memorandum has a different structure.

The minister said the new program, which includes harsher austerity and sweeping changes, does not foresee further reductions in wages, and pension cuts will be marginal.

Should the drafted bailout bill be tabled in parliament, set for an emergency session tomorrow, Thursday, it is unclear whether Prime Minister Alexis Tsipras’ party will support it, which according to reports, may lead to elections yet again. If given the green light, the deal will be discussed at a meeting of eurozone finance ministers scheduled for Friday.

In the meantime, according to Kathimerini daily, Germany is still “skeptical” about the deal and is proposing a bridge loan instead of a full agreement.

Greece has until August 20 to dish over some 3.2 billion euros to the European Central Bank.