Sources state that Prime Minister Alexis Tsipras was prepared and persuasive at the meeting of “8” in the framework of the EU Council on Thursday. The Greek government is now following up on the meeting by frantically preparing reforms proposals for the Brussels Group in an effort for these to be reviewed and agreed upon by the end of the week. These reforms develop the ones presented by Tsipras’ on a first level as a road map to getting Greece out of the crisis but also adopting measures to reduce the danger of fiscal derailment that EU partners are afraid of.

Greece’s fiscal team appear willing to consider:

■ Privatizations such as those of the Piraeus Port Authority on conditions. In these privatizations, the Public Sector would hold 51% ownership, however 49% and management would be given to private owners. Parallel to this, share capital increases would be made for those who wish to invest in job creation as well as social dividends with activities of corporate responsibility.

■ Abolition of the single property tax (ENFIA) to be replaced by the large property tax (FMAP)
Lower groups whose objective property values are around 100,000 euros would be exempt from this tax. A part of the middle class, who at first appeared to be exempt, may end up being included in this tax. Government sources state that it would still be less than ENFIA with the lion’s share being paid by those who have large property shares.

■ Supplementary 5-year statements with 15% tax
The government hopes to pump public revenue with a regulation for supplementary tax statements without fines with 15% taxes for undeclared income over the last three or five years. It is hoped that a number of tax offenders on the Lichtenstein or Lagarde lists would come forth and declare their money. Circles within the Finance Ministry estimate that there is over 1 bln euros worth of undeclared income.

■ 600 mln euros from fines and confiscations from Proton and Energa
The state is looking at gathering 400 mln euros from these cases alone. A fast track bill for the immediate collection of fines in big cases of corruption stuck in bureacuracy could help free up revenue.

■ Changes to the way in which VAT is paid and tax amelioration changes
Greek technical teams are reviewing VAT payments to the Public Sector that are currently collected via tax. Part-timer tax monitors are also being considered. The government also plans to re-examine tax exemptions and the creation of new tax charts with possible burdens to middle and high income tax (large income earners may be charged from 2,000-2,500 euros per month).

■ The regulation for “red loans” to be reviewed
The government appears to be making a number of unpleasant commitments. Sources state that changes will be made to the regulation for “red loans” and that consultations will begin at the Finance Ministry. Greece appears to be backing down on its plans for a settlement.

■ NSRF Returns and OLAF checks
The government has guaranteed faster National Strategic Reference Framework (NSRF) absorption for 2014-2020, to combat bureacuracy for the smoother operation of SMEs and greater supervision from the EU OLAF anti-fraud organization.

What foreign technical groups want:

■ Keeping ENFIA, with some changes such as legal teams, small hotels and other groups entering the ENFIA tax system but also reducing objective values

■ Immediate measures to cover the fiscal gap for 2014 and the start of 2015
1. New emergency contribution or an increase to the one former prime minister Antonis Samaras reduced. More taxes for tobacco, alcohol, etc.
2. Increasing fuel tax
3. Joint wage system, cutting high incomes

■ Permanent measures such as increasing VAT or abolishing VAT reductions on islands or joint contributions from 19-21%, abolition of tax exemptions