Greece ‘drafting’ deal terms

Greece and its creditors are starting to draft a technical-level agreement, a government official said yesterday, signalling progress in long-running talks to unlock aid for the cash-strapped country.

“At the Brussels Group [of credit negotiators] today procedures to draw up a staff-level agreement are beginning,” the official said, adding that prime minister Alexis Tsipras would be in constant touch with other leaders to conclude a deal.

The official said the deal would avoid wage and pension cuts, include reform of VAT and include a lower target for a primary surplus in the first year.