The first meeting between Prime Minister Alexis Tsipras and the President of European Parliament Martin Schulz took place in Athens on Thursday in a tense atmosphere, after the spat over the imposition of further sanctions against Russia. During the two-hour meeting, which Mr. Schulz called “tiring”, there was some tension, however as the European official noted in the subsequent press conference, he was pleased with Mr. Tsipras intention to submit proposals to discuss.

Regarding the renegotiation which the Greek government is aiming for, both sides came to some agreement on tax evasion and tackling corruption, although it should be noted that Mr. Schulz does not have authority on this matter. Nevertheless, there was a mutual understanding that further time was necessary for the deliberation to begin.

The three main points of discussion were tackling tax evasion, transparency, the efficiency of public administration and the introduction of tax system based on an wealth list; the Greek government’s willingness to work towards primarily balanced budgets, with the downward revision of primary surplus goals up to 2020; funding the country’s productive reconstruction through a new investment deal, NSRF and the exclusion of public investment from the fiscal deficit target.

Friday’s meeting of Prime Minister and the Minister of Finances Yanis Varoufakis with the chief of the Eurogroup Jeroen Dijsselbloem will be critical, as it will demonstrate whether the Greek proposals are sufficient to begin negotiations.