Euclid Tsakalotos

The draft bill for the three-year rescue package worth about 85 billion euros ($93 billion) in loans includes harsh spending cuts and tax hikes that Prime Minister Alexis Tsipras has said he has no option but to implement.

His radical left Syriza party won elections in January on promises of repealing similar budget austerity imposed in return for Greece's previous bailouts.

The exchange has been closed since June 29, when the government imposed capital controls to prevent a banking collapse.

Finance Minister Euclid Tsakalotos signed the order Friday that also includes restrictions for Greece-based traders for an unspecified time period. A 60 euro limit on cash machines withdrawal will remain in place.

But the government faced rebuke following revelations that former finance minister, Yanis Varoufakis, formed a secret committee to plan for the possible conversion of euros into drachmas "at a drop of a hat."

Finance Minister Euclid Tsakalotos said late Monday that meetings in Athens had begun between Greek officials and negotiating teams representing creditors, with talks to intensify Tuesday, paving the way for higher level discussions possibly by the end of the week.