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Eurozone finance ministers and IMF Managing Director, Christine Lagarde, are to meet in Brussels on July 18 to decide on the release of a further €8bn tranche of financial aid to Athens, of which €6.3bn will be provided by EU member states.

Their decision will depend on agreement between EU-ECB-IMF troika representatives and the Greek goverment, which are still engaged in talks, explains Eleftherotypia. To remain on life support, Greece has pledged to cut 4,000 public sector jobs by the end of the year, and to change the status of 25,000 civil servants.

However, the minister tasked with the reform of public administration in the country is demanding more time in which to implement the required measures. In the absence of an agreement, the release of the tranche of aid could be postponed until September.