They are giving Greece a 1 billion euro tranche but request 1.2 billion in measures

The Greek government is considering to legislate unilaterally, without the approval of the Troika, in order to extend the freezing of auctions and 13% VAT in catering.

But before Troika leaves Greece today or tomorrow, the Development Minister will have another meeting for the auctions while and possibly Stournaras might attempt to make a deal about the financial gap that now stands at 1.2 billion euros.

Based on the new data after the weekend meetings with Troika:

-       the Greek government is close to reaching agreement on the EAS to get a tranche of 1 billion euros on Thursday, December 19. According to information, the Greek side insisted that at least three factories must be rescued to carry out demanding production contracts of air to air missiles on behalf of NATO

-       the fiscal gap and its ways of covering will be discussed in January. The difference with the Greek side was reduced to 900 million euros but increased to 1.2 billion because Troika denies the collectability of ENFIA. It does not accept the 2.65 billion euros estimated by the government but provides a collection of 2.35 billion

-       Troika will return in mid-January and on January 27 a Eurogroup will convene for the next tranche for Greece of 3.1 billion euros

-       the issue of auctions will be discussed again when the auditors return, if no solution is found in today's meeting with Hadjidakis. The Greek side believes it is difficult to reach an agreement today, leaving an open possibility for a unilateral decision to extend the ban on auctions.

The Greek government may also legislate unilaterally in December to maintain the 13% VAT in catering but Troika does not accept the estimates of the Greek side for the effects of the reduction in state revenue.