Negotiations with the institutions stall as the differences persist

17 March 2016
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The optimist of an agreement being reached for the completion of the bailout review has given way to tension, as the distance between the two sides continues to grow.

Given that the institutions are expected to leave Athens on Monday, there are essentially only 4 days left in order to reach an agreement to complete the bailout program review.

A senior government official revealed that in spite of the optimism expressed on reaching a deal, the differences on tax reform remain significant. The Greek side is pressuring for a tax-free threshold of 9,500 euros, with the institutions insisting on a 7,000 to 8,000 threshold and a 32% tax for income over 22,000 euros.

In relation to the pension reform, the relevant minister underlined that the negotiations will continue on Thursday, but noted that the differences were ‘chaotic’, particularly in relation to cuts in main and supplementary pensions and reciprocity.

On Thursday the institutions are scheduled to meet with Greek government officials to discuss justice reforms, the pension system reform, as well as budgetary and other financial affairs.

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