Italian Economy Minister Pier Carlo Padoan said on Friday that negotiations with Greece on a third bailout programme must be balanced and aimed at both keeping spending in check and fostering growth. "It will be a delicate negotiation that must keep in mind the lessons learned from past experiences." The European Stability Mechanism, the euro zone's bailout fund, decided earlier on Friday formally to open negotiations with Greece on a bailout programme that could total 86 billion euros ($93.3 billion) over three years.
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