Greece and its creditors have kicked off negotiations on a new bailout for the cash-strapped country, EU Economy Commissioner Pierre Moscovici says, according to dpa. "The negotiations of the memorandum of understanding have just started and will lead us to, I would say, the second fortnight of August," Moscovici says, referring to the document that will set out the economic measures that Greece will have to undertake in exchange for its third rescue package. The theoretical calendar for the negotiations goes until mid-August, Moscovici says, but declines to set a fixed deadline for the talks. "After months of deadlock, we are now making swift progress," he adds, expressing confidence that the Greek Parliament will pass a second batch of agreed reforms later Wednesday.
