The Minister of Finances Yannis Stournaras and the Minister of Growth Kostis Hatzidakis met with the troika representatives today noon, with a second meeting scheduled for 5pm today. Due to the overlap of ministerial jurisdiction on the auctions of primary residences, the Minister of Justice Charalambos Athanasiou, the Deputy Minister of Growth Athanasios Skordas and the Deputy Governor of the Bank of Greece Yannis Papadakis were also present for the 12 ‘o clock meeting.
The Greek side estimates that they will come to an agreement with the troika about the controversial lift on the temporary ban on primary residence auctions by mid December, which is in effect until the end of the year. An officer from the Ministry of Growth explained that there was an initial agreement with the troika and a sense that this matter will soon be complete. The officer reported that the two sides discussed various measures that could help expedite procedures.
According to the Growth Ministry officer, the Greek side insisted upon establishing an “acceptable sustenance” limit, in order to protect homeowners who are truly poor from the threat of auctions. The Greek side also wants to establish various benefits such as mediation for “cooperative borrowers” who make an effort to fulfill their obligations towards the state, despite experiencing financial problems.
The troika on the other hand appeared to be absolute in its demands regarding the immediate and complete deregulation of commercial property leases, which, according to the Ministry of Growth, will affect both old and new contracts.
The IMF, EU and ECB representatives are going to meet with the Minister of Finances and his staff at 5pm again.
