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French President: Greece Could Reach Deal by End of August

tsipras1--2-thumb-largeFrench President Francois Hollande said that Greece could, and should, reach a bailout agreement by the end of August.
The French President made the comment while in Egypt on the sidelines of the opening ceremony of the Suez Canal expansion.
“We know it’s difficult but we must make sure that the conditions are met, in a good spirit,” Hollande said. “For now I believe the atmosphere is right and discussions are going in the best of directions.”
Hollande had an informal meeting with Greek Prime Minister Alexis Tsipras and according to the latter they had a constructive talk. The two leaders confirmed their commitment to the July 12th agreement and they said that negotiations can and must be concluded by August 15.
Athens needs to seal the deal by that date because on August 20 there is a 3.4 billion euro payment due to the European Central Bank for state bonds.
Tsipras and Hollande also discussed the steps Athens needs to take in order to come out of recession and get on the path to growth.

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