First phase of troika talks ends with some signs of convergence

The first phase of talks between the Greek government and visiting representatives of the country's lenders ended on Friday with some signs of convergences, officials said.

On the issues of pension reform and changes to the system, there was an agreement on the "basic structure" of the changes, Economy Minister Euclid Tsakalotos said after a meeting with foreign envoys. 

"There was convergence on some matters and there needs to be more progress on the technical or political level," Tsakalotos said, adding that common ground had been established as regards the "logic of the reforms."

The envoys "understand the government's commitment to not cut pensions," Tsakalotos said, adding that he was "more satisfied today than on the first day of the talks."

The representatives of Greece's creditors were to leave Athens on Friday, leaving the technical teams to continue talks on details of the reforms being discussed by the two sides.

The goal is for negotiations to be completed by the end of the month, Tsakalotos added.