Greece Bailout Plan

More than half of Germans are opposed to a planned third bailout for Greece and the vast majority do not believe the Greek government will implement economic reforms, a survey by Forsa for newspaper Handelsblatt showed.

Initial bailout funds for Greek banks will be placed in a special account not on their balance sheets and lenders will receive fresh equity only after a "stress test" is finished by the end of October, several sources told Reuters on Wednesday.

More than half of Germans think the planned deal with Greece is bad and many would have preferred that the crisis-stricken country left the euro zone rather than getting the chance for further aid, according to an opinion poll.

The updated debt sustainability analysis (DSA) was sent to euro zone governments late on Monday, hours after Athens and its 18 partners agreed in principle to open negotiations on a third bailout programme of up to 86 billion euros in return for tougher austerity measures and structural reforms.

IMF chief Christine Lagarde said she hoped for "a lot of progress" after the Greek parliament backed leftist Prime Minister Alexis Tsipras's new reform plan, aiming at a rescue worth more than 80 billion euros ($89 billion).

IMF chief Christine Lagarde voiced hope for "a lot progress" at a meeting of Eurozone finance ministers on Saturday on Greece's last-ditch plan for a third bailout in return for economic reform.

An EU source in Brussels said on Friday that the latest debt proposals from Athens -- which closely resemble the last offer from its creditors before talks stalled -- were "positive" enough to form the basis of a massive new bailout worth 74 billion euros ($82 billion).

Greek officials on Tuesday said they had submitted credit proposals to Eurozone partners based on those the country put forward last week, rejecting suggestions that Athens had not put forward new proposals for a euro summit.

Greek Prime Minister Alexis Tsipras's plan to hold a referendum on Sunday on creditors' demands for austerity has prompted a breakdown in talks with lenders, forced Greece to shut banks and left its future in the euro in doubt.

A majority of Greeks would vote No to the terms of a proposed bailout deal by foreign lenders but the lead narrowed significantly after banks were closed this week, according to an opinion poll published on today.

India is monitoring developments after the breakdown in talks between Greece and its creditors, but does not have a firm plan in place to deal with any significant fallout, Finance Secretary Rajiv Mehrishi said.

Greek unions planned protests in Athens and other cities on Thursday over the prospect of new austerity cuts demanded by the country's international creditors.

The EU hailed as a positive step Tuesday the exchange of documents between Greece and its international creditors, as Greece said it had submitted a reform plan to win vital bailout cash.

Greece secured a four-month extension of its financial rescue on Tuesday when its Eurozone partners approved a reform plan that backed down on key leftist measures and promised that spending to alleviate social distress would not derail its budget.

Greek Prime Minister Alexis Tsipras comfortably won a confidence vote on his plan to cancel a deeply unpopular bailout programme and challenge European leaders as both sides prepare for a showdown at meetings in Brussels this week.

More than half of Germans are opposed to a planned third bailout for Greece and the vast majority do not believe the Greek government will implement economic reforms, a survey by Forsa for newspaper Handelsblatt showed.

Initial bailout funds for Greek banks will be placed in a special account not on their balance sheets and lenders will receive fresh equity only after a "stress test" is finished by the end of October, several sources told Reuters on Wednesday.

More than half of Germans think the planned deal with Greece is bad and many would have preferred that the crisis-stricken country left the euro zone rather than getting the chance for further aid, according to an opinion poll.

The updated debt sustainability analysis (DSA) was sent to euro zone governments late on Monday, hours after Athens and its 18 partners agreed in principle to open negotiations on a third bailout programme of up to 86 billion euros in return for tougher austerity measures and structural reforms.

IMF chief Christine Lagarde said she hoped for "a lot of progress" after the Greek parliament backed leftist Prime Minister Alexis Tsipras's new reform plan, aiming at a rescue worth more than 80 billion euros ($89 billion).

IMF chief Christine Lagarde voiced hope for "a lot progress" at a meeting of Eurozone finance ministers on Saturday on Greece's last-ditch plan for a third bailout in return for economic reform.

An EU source in Brussels said on Friday that the latest debt proposals from Athens -- which closely resemble the last offer from its creditors before talks stalled -- were "positive" enough to form the basis of a massive new bailout worth 74 billion euros ($82 billion).

Greek officials on Tuesday said they had submitted credit proposals to Eurozone partners based on those the country put forward last week, rejecting suggestions that Athens had not put forward new proposals for a euro summit.

Greek Prime Minister Alexis Tsipras's plan to hold a referendum on Sunday on creditors' demands for austerity has prompted a breakdown in talks with lenders, forced Greece to shut banks and left its future in the euro in doubt.

A majority of Greeks would vote No to the terms of a proposed bailout deal by foreign lenders but the lead narrowed significantly after banks were closed this week, according to an opinion poll published on today.

India is monitoring developments after the breakdown in talks between Greece and its creditors, but does not have a firm plan in place to deal with any significant fallout, Finance Secretary Rajiv Mehrishi said.

Greek unions planned protests in Athens and other cities on Thursday over the prospect of new austerity cuts demanded by the country's international creditors.

The EU hailed as a positive step Tuesday the exchange of documents between Greece and its international creditors, as Greece said it had submitted a reform plan to win vital bailout cash.

Greece secured a four-month extension of its financial rescue on Tuesday when its Eurozone partners approved a reform plan that backed down on key leftist measures and promised that spending to alleviate social distress would not derail its budget.

Greek Prime Minister Alexis Tsipras comfortably won a confidence vote on his plan to cancel a deeply unpopular bailout programme and challenge European leaders as both sides prepare for a showdown at meetings in Brussels this week.