Tsakalotos: Greece reached staff-level agreement with lenders on third review

epa05271960 Greek Finance minister Euclid Tsakalotos prior to the meeting of the Eurozone Finance Ministers at the Scheepvaartmuseum in Amsterdam, The Netherlands, 22 April 2016. Eurozone ministers met to discuss the Greek bailout and the Panama Papers fallout. EPA/BART MAAT

Greece and its lenders reached a staff-level agreement on the country’s third program review on Saturday, Finance Minister Euclid Tsakalotos said after a meeting with the country’s lenders.

“We achieved the agreement with the institutions on a staff-level on all issues,” he told journalists. “We won enough things and we are happy,” he said, citing as an example the agreement to give employees super priority in case of bankruptcy. He said they will be first in the list of creditors, above the banks and the State.

Asked about whether the VAT on the islands will remain unchanged, the minister said this issue “has not exactly been agreed on with the institutions” and remains pending. He said the issue will be clarified long before January 1, 2018 when the special tax regime will be abolished.