(VOVworld) - Both Greece and its creditors said Tuesday they were optimistic they could broker a deal within days for a multi-billion-euro bailout.

A bailout worth up to 86 billion euros must be settled by August 20 - or a second bridge loan agreed - if Greece is to pay to the European Central Bank a debt of 3.5 billion euros that matures on that day. Wrapping up a day of talks in Athens, Greek Finance Minister Euclid Tsakalotos said negotiations were going better than expected.

After months of tense negotiations, Greece and its creditors agreed to finalize a third bailout package worth 86 billion euros for Greece. In exchange, Greece must follow austerity measures demanded by the creditors.