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Mission chiefs from Greece's four international lenders were poring
over the books for a second day in Athens on Thursday, looking at
its compliance to be eligible for a three billion instalment of its
86 billion euro aid program.
Greek authorities want a first review of its compliance completed
within weeks, so it can get started on negotiations with lenders on
debt relief.
Tsipras used a cabinet meeting on Thursday to drive home the need to
up the reform pace to conclude the first review, government
officials said.
"There is no room for delay," a government official quoted him as
saying.
Greek government officials said there were disagreements with
lenders on a mechanism to tackle non-performing loans at banks, now
estimated at more than 40 percent of their portfolios.
Tsipras was elected on an anti-austerity platform in January, but
had to backtrack and agree to tough reforms or the prospect of
financial meltdown and getting kicked out of the euro zone.
French President Francois Hollande, who strongly supported Greece's
place in the euro through acrimonious talks in the summer, was due
in Athens on a two-day visit on Thursday.
LOAN DRAG
Hit by a deposit flight earlier this year and soured loans from a
deep recession, banks are in line to get a portion of bailout cash,
but will also need to turn to private investors to plug capital
shortfalls.
Athens wants protection from foreclosures to cover property values
of at least 200,000 euros for primary residences, whereas lenders
insist protection should not be provided above a property value of
120,000 euros, a source close to talks said.
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"The divergence is quite wide ... but it doesn't mean it won't be
solved," a government official told Reuters.
European Economics Commissioner Pierre Moscovici said reforms
carried out by Greece were on track, and its creditors would
disburse the next instalment of aid.
"Greece has done a certain number of reforms, and we are going to
give them money, 3 billion euros in all," Moscovici told Europe 1
radio.
"And in the course of November, December we will deal with the issue
of the recapitalization of Greek banks and Greek debt," he said.
Privatizations and pension reforms planned are already stirring
dissent. Dock workers called a 24-hour strike on Thursday over plans
to sell off two key ports, while public and private sector workers
have called a nationwide strike on Nov. 12.
(Writing by Michele Kambas; Editing by Tom Heneghan)
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