After another marathon meeting that started on Sunday and ended 12 hours later on early Monday morning, Greece and creditors are in the process of making the last changes to complete the draft agreement by Tuesday.
Finance and Economy Ministers Euclid Tsakalotos and Giorgos Stathakis were to resume negotiations with the quartet of creditors’ representatives at 10:00 am on Monday to iron out some “thorny” issues.
According to AFP, citing a European Union source, discussions have narrowed down the list of priority actions that Athens must commit to.
“We need to have an agreement here on Tuesday and all parties are working toward it,” the source added.
The Greek government is optimistic that the draft deal will be signed on Tuesday and Prime Minister Alexis Tsipras is in continuous contact with Tsakalotos over the progress of talks. The draft deal will go to a vote in the Greek Parliament on Thursday.
According to sources within the Greek government, the agreement will come to a vote in two articles: The first one would include the loan contract and the Memorandum of Understanding and the second will include all prior actions required.
After the agreement passes from the Greek Parliament, an emergency meeting of Eurozone Finance Ministers will take place on Friday and within the next few days the deal will go to a vote in European parliaments.
According to a source close to the talks, the “thorny” issues remaining open are non-performing loans (red loans), the privatization fund, and the five-euro visit fee to state hospitals.
Red loans: They are estimated at 90 billion euros and the Greek government proposes the establishment of a management body where all red loans would go, while creditors propose that red loans should be sold to foreign funds.
Privatization fund: Creditors want speedy completion of all privatizations already in progress and enhancement of the Hellenic Republic Asset Development Fund (HRADF), while Athens proposes the creation of a new fund.
Hospital visit fee: Creditors ask for the return of the five-euro visit fee for state hospitals that the government has abolished.
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