The Minister of Finance Euclid Tsakalotos spoke of a convergence of the government and heads of institutions in relation to income tax reform.

After the meeting concluded in the early morning hours, Mr. Tsakalotos commented that both sides were close to an agreement, where by wealthier taxpayers will pay higher taxes than those on lower incomes. This, he added, is something that the Left can support.

Sources also clarified that there are no plans for a further meeting between Greek government officials and the institution heads to discuss the issue of the income tax.

Additionally, the Finance Minister revealed that a new round of talks will begin on Friday, in order to discuss the other measures necessary to secure a 3.5% GDP primary surplus. The latest information from government officials suggest that this will require measures worth 1% of the GDP – about 1.7 billion euros – which the Greek side has proposed and will be discussed once again with the creditors.

Finally, Mr. Tsakalotos noted that there has been progress on the pension reform, but at the same time revealed that there is a huge distance on the management of non-performing loans (“red loans”), meaning that further time may be needed to reach an agreement.