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Greece, lenders stuck in disagreement over ‘red loans’, Tsipras speaks with Juncker, Merkel & Hollande

Greece’s Prime Minister Alexis Tsipras did not have time to join the Athens Marathon today Sunday. He stayed in his office instead and started calling around: European Commission President Jean-Claude Juncker, French President Francois Hollande, German Chancellor Angela Merkel. Top on the agenda: the release of  the 2 billion bailout tranche on Monday by the Eurogroup. But hope is slim. The Euro Working Group  – the eurogroup’s preparatory body – that met today via teleconference could not find an agreement with the Greek side.

The gap between creditors and Greece is still big, with the EWG group members alledlgedly claiming that “Greece had made some progress” with the prerequisites but that there were also important issues still open. First of all, the non=performing loans at the Greek banks, – “red loans” – and the foreclosures of the primary residence as well as the 100-istallment payment of debts but also issues like the equivalent measures for 23% V.a.T. in private education and the lowest price for generic drugs.

Greece and lenders are apartment in constant contact in order to align the major issues, before Monday’s Eurogroup. But chances are slim that the Eurogorup will release the bailout loan tranche – yes, some call it “aid”. Most likely the eurogroup will take notice of Greece’s “progress” and send Greeks back to Athens until homework is done.

The EWG reportedly proposed another EWG meeting for Wednesday and or Friday.

While discussions have stumbled over the main issue of how to foreclose on non-performing loans at Greek banks, Athens insists that resolving the issue should not result in thousands of Greeks at risk of losing their homes.

“There is a distance with lenders on that issue, and I don’t think that we will have an agreement soon,” a government official told Reuters stressing that the issue should be “solved at a political level” and that “We will use all the time (we have at our disposal) to reach an agreement and discussions might continue on Monday morning if required.”

No details of the talks between Greek PM and the EU leaders have been leaked, therefore it is still a puzzle whether a “political solution” can be found.

Ps I bet all three, Juncker, Merkel and Hollande, are promising Tsipras “the political solution”, once he agrees to “joint patrols with Turkey in the Aegean.”

chewing gum

Chewing on red loans

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7 comments

  1. apartment? 😀

  2. How much more humiliation is needed for local politicians to tell the EU to f*** off once and for all? ‘Poor’ Tsipras must be a nervous wreck. Clinging on hope, especially EU hope, hasn’t offered nothing at all. It’ll be almost a year of endless discussions…

    I wonder if they have a good time chatting around and they forget to actually debate anything, so they have to continue discussing.. what they did not discuss before – for ever and ever.

    My fellow Greeks, rise up.

    • How long will it take for the people of Greeks and Europe at large to wake up and take action against this evil EU?

  3. Giaourti Giaourtaki

    So then we’ll see if the secret army with their death squads have real balls and hunt Turkish boats instead of refugees in nutshells.
    Anyway the patrols will not happen, because Tsipraki’s dating his visit to Turkey on November 17 looks like a unbelievable or smart provocation.