A new teleconference between Greece and its creditors is in progress in an effort to reach a compromise regarding mainly the major issue of first residence auctions.

Economy Minister Giorgos Stathakis and Finance Minister Euclid Tsakalotos talk again with the four representatives of the Institutions, since yesterday’s teleconference proved to be fruitless.

Greek government will try today or until tomorrow to provide further information on the equivalents which will replace the VAT rate in education, as well as, the new regime of 100 installments for debts on tax authorities. Greece’s deadline is Monday morning, when the Euro Working Group meeting is scheduled.

If they don’t reach an agreement within the weekend, the Euro Working Group will discuss only findings and recommendations, whereas the disbursement of 2bln tranche will be postponed to the next teleconference of the Euro Working Group.

After the meeting of the Euro Working group, the representatives of the Institutions will return to Greece to determine the next set of the prior actions that should be voted quickly before closing the major pending issues.

There is a great disagreement, though, between Greece and its creditors on the first residence auctions. The creditors insist on protecting only the very poor social groups and set the bar too low regarding the income criteria, while there are still disagreements on the threshold to be set to the value of first residence.