IMF's 'Iron lady' set to play central role in Greek bailout talks

The International Monetary Fund's mission chief in Greece, Delia Velculescu, arrives in Athens on Thursday.

The two other main mission chiefs are already in the Greek capital but Velculescu's much-anticipated presence has been delayed until today.

The European Commission will be represented by Declan Costello, the European Central Bank by Rasmus Rüffer.

The group formerly known as the “Troika” is now being renamed as "Quadriga" to note the inclusion the European Stability Mechanism (ESM) in the talks. The ESM - eurozone’s bailout fund which will fund the third rescue package – will be represented by of mission chief Nicola Giammarioli.

Velculescu is a Romanian economist who was recently anointed mission chief taking over from Poul Thomsen.

As the Guardian reports: “Velculescu, was dubbed the "iron lady" during the fraught talks over Cyprus's bailout. Given the poor relationship between Greece and its creditors, her toughness will be tested anew in the coming days.

Velculescu holds a masters and PhD in economics from Johns Hopkins University in Maryland, and has been at the IMF since 2002. She co-authored an earlier IMF review of the Greek economy in 2009, and this, coupled with her time in Cyprus as the IMF’s chief representative between 2012 and 2014, has led to her securing a prominent role in trying to resolve the ongoing crisis in Greece.”

Some Greek tabloids have already taken to dubbing her as "Draculescu".

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