The Prime Minister Antonis Samaras held an emergency meeting this morning with representatives of the Ministries of Defense and Finances in order to discuss the troika demands regarding defense industries LARKO, EAS and ELVO.

According an email sent on Monday, the troika representatives appear have rejected the government’s liquidation plans and have requested that the three companies shut down, without paying out any compensation to employees.

The troika has requested that the three defense industries shut down, as it does not consider the Greek plan of liquidation to be viable. The Greek side has doubted the troika estimations. The biggest problem appears to be with EAS. The troika estimates that 144 million euros are required to continue operations.

The Ministry of National Defense has disputed the div and estimated that only 30 million euros will be needed, which will be generated from the sale of EAS assets, thus avoiding any further burden on the budget. A further 12 million euros will be needed for volunteer departures, for about 350 of the company’s current 818 employees.

A senior government officer has indicated that the troika representatives appear to be adamant on the immediate closure of the three companies, hinting that the Greek side might lose this battle if the closure is related to the collection of the next bail out loan installment.