(VOVworld) – Greece and its international creditors began talks in Athens on Monday on a third bailout package of up to 86 billion euros (94 billion dollars).

European Commission spokeswoman Mina Andreeva said that teams from the creditor institutions are already in Athens and work is starting immediately. Andreeva indicated that the negotiations would be helped along if Athens pursued additional reforms.

Greece has said it intends to conclude the negotiations by August 18, two days before a payment of 3.2 billion euros is due to the European Central Bank.