Low interest rate and grace period up to 48 months for overdue loans

According to a high member of the Finance ministry, a common regulation for debts to the tax offices and social security funds is sought between the Greek government and troika.

"There is no significant progress. They want a permanent system based on European standards and we want 100, 200 or 1,000 installments. We are looking for an identical system with the same installments for debts to the tax authorities and social security funds," he said, referring to today’s meetings of the technical teams with the ministries of Labour and Finance.

Especially on the arrangements for bank loans, the same member said, "there is no substantial progress. Troika is concerned about the impact on bank recapitalization and wants to know how many will be affected by the regulation and how much we will receive."

According to other information, convergence has been detected in some individual issues in the talks with troika.

Reportedly, for the issue of overdue bank loans troika agrees with a setting for a floating interest rate of 1.5% and not a fixed one as requested by the Greek side, which will also be connected to the ECB rate. But it does not disagree for an income criterion of 25,000 euros.

For the grace period, the Greek side had proposed that it should reach over 4 years, with an evaluation at 2 years. Troikans seem to agree to the 4 years, but with an annual evaluation.

Disagreement can also be detected on whether to provide protection for the 1st home with an objective value up to 180,000 euros, provided the total estate does not exceed 300,000 euros, as proposed by the Greek side.

Troika agrees to these figures, but insists that the Greek State must consider the overall fortune and not only in terms of real estate, but also all other items of the borrower such as deposits, bonds, shares, etc.

The Greek side has requested amendments to the "Katselis’ law " also, and especially for the percentage of the installment to be paid by the borrower until his case is heard. But the suggestion that the amount does not exceed 10% of the installment, with a minimum paid amount of 40 euros, seems to be against troika’s views.