The government appears certain that there will be an agreement with the troika of its international lenders from the European Commission (EC), European Central Bank (ECB) and International Monetary Fund (IMF) by the end of the year. Optimism was expressed following a round of meetings between government officials on Thursday with a source close to Prime Minister Antonis Samaras stating that “those who invest in catastrophe will be disappointed as there was no wreck or destruction in Paris.”

Despite government officials’ optimism for Greece’s exit from the bailout deal by the end of the year, a review needs to be completed before this can take place and time is running out. The troika has made it clear that added austerity measures are needed before an agreement can be reached and it remains to be seen how painful the new compromise measures with troika will be.

Troika wants the government to add more regulations to close an estimated fiscal gap, which would require pension reductions, labour changes, VAT increases and a number of other laws. Greek compliance will determine when the troika representatives will come.

Meanwhile, government discussions are continuing with a barrage of e-mails, teleconference calls and telephone discussions.

Not everyone is optimistic as troika’s demands are not approved by all factions of Parliament and the government will have a hard time ensuring they are voted through.