The consultations between the Greek side and the technical team of the Institutions (ECB, EC and IMF) are not likely to produce any concrete results before the summit meeting on Thursday, according to information.

So far, the Greek government has only been willing to brief the auditors on the issue of 2014 primary surplus, confirming that it is was much smaller than the official estimate (0.3% vs 1.5% which had been the target for 2014). The auditors also confirmed what was already suspected, i.e. that in late 2014 a € 2 billion “black hole” opened in tax revenues!

How and why the government rejected in their entirety € 2 billion revenues will be revealed when the Treasury announces the final execution data of the General Government, in the coming days or weeks.

However, this ‘hole’ of €2.2 billion now has the auditors wondering about last year’s finances and they are constantly asking for information regarding the execution of this year’s budget.