The opening of the energy market, the privatization fund and the management of bad loans are the issues stalling negotiations between Greece and creditors.
The issues need to be resolved by Friday night at the latest, otherwise Athens will be forced to postpone negotiations and delay receiving 1 billion euros of bailout money. According to a Real.gr report, the Greek government is planning to ask for the postponement of negotiations if the two sides fail to agree by tomorrow.
Finance Minister Euclid Tsakalotos and Economy Minister Giorgos Stathakis are in continuous deliberations with the quartet of representatives of the European Commission, European Stability Mechanism, European Central Bank and International Monetary Fund.
The privatization of the Independent Power Transmission Operator (ADMIE) is an issue in which the two sides are far apart. Greece proposes that the state buys ADMIE and sells 49 percent of it to private enterprises. There are still disagreements over who will manage the operator.
On the issue of bad business loans, lenders insist that those should be transferred to distress funds, while the Greek side wants Greek banks to continue managing small and medium business loans in arrears.
The plan for the new, independent privatization fund Greece has agreed to establish on July 13 has not yet been completed. There are disagreements regarding the person who would direct the fund or its operating structure.
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