The buzzwords of Greek negotiations - a Glossary!

Bailout: The measures that Greece needs to implement to get new funds. The legal name of a bailout is Memorandum of Understanding.

Brussels Group: This should not be confused with the group formerly known as the Troika that included Greece's international creditors from the European Commission (EC), European Central Bank (ECB) and the International Monetary Fund (IMF). Instead, the Brussels Group is all of the above and the European Stability Mechanism and also includes the Greek government as part of a five-membered group.

Creative Vagueness: The term made famous by Finance Minister Yannis Varoufakis is an agreement that is philosophical rather than based purely on figures. Simply put, it is a loose and flexible agreement that gives leeway to both sides.

Memorandum of Understanding (MoU): See bailout. The term memorandum, like troika, has negative connotations in Greece.

On-site Exchange of Facts: The new word for the old "reviews" of the Greek economy that the representatives of Greece's three international creditors would make. The difference between the "review" and the "exchange" is that in the latter, the facts will be given by officials of the same ranking between themselves. Furthermore, the visits now take place at a neutral territory (eg. hotels) and not within ministries.

Program: The new word for bailout and Memorandum of Understanding (MoU), bearing in mind the bad connotations that the old words have in Greece.

Troika: Greece's international creditors from the European Commission, European Central Bank and International Monetary Fund engrained in Greek people's minds as images of low-ranking...

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