Greek Prime Minister Alexis Tsipras
Greek Prime Minister Alexis Tsipras (C) greets leader of the centre-left To Potami party Stavros Theodorakis (L) at a meal of the Greek political party leaders at the Presidential Palace, hosted by President Prokopis Pavlopoulos (not pictured) to commemorate the 41st anniversary of the Restoration of Democracy after the fall of the military junta in 1974 in Athens, Greece July 24, 2015. No date has been set for the beginning of formal talks on a new rescue program for Greece because international creditors are still looking for a secure place to hold negotiations in Athens, a European Commission official said on Friday. Reuters/Ronen Zvulun

On a new multibillion-euro bailout in Athens, a Greek official said that Greece desires to have affordable negotiations with the international creditors, including the European Commission, European Central Bank and International Monetary Fund, latest by Tuesday.

The finance and economy ministers of Greece had a meeting with the representatives of creditors on Sunday regarding the bailout. As per the previous statement of the Greek officials, the bailout agreement is expected to be presented in the parliament by August 18. A Greek official, who refused his name to be revealed, said that they are putting enough efforts to bring negotiations to a particular conclusion either by Monday night or early Tuesday.

“When the new bailout comes to parliament for a vote it will be one bill with two articles – one article will be the loan agreement and the MoU [Memorandum of understanding] and the second article will be the prior actions,” the official said, referring to the measures to be taken for the bailout by Greece.

The negotiations started on July 20 and the aim was to arrange a meeting of eurozone finance ministers to review the bailout accord on Friday, August 14. The bailout, however, is expected to come to certain conclusion by August 20 when Greece has a falling repayment due to the European Central Bank.

Greece Prime Minister Alexis Tsipras seems pressured by the payment deadline, but seeing his fame among the Greeks, he warns his own Syriza party’s dissenters of early elections in the autumn in case they resist €86billion (AU$127.39billion) bailout measures.

Panagiotis Lafazanis, the former energy minister who voted against the new bailout deal, has regarded it as “a negotiating fiasco” and said that the PM could not “avoid the outcry by resorting guiltily and hurriedly to elections.”

Iskra, a website of the anti-euro group inside Syriza, raised the issue of snap elections on Saturday and demanded for elections to be held during the first half of September.

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