Greek government has a deadline till December 11 to implement the prior actions in order to receive the 1 billion euros sub-tranche, a top EU official says.

The Euro Working Group scheduled to take place on December 7 is expected to be a short one. EU finance ministers will discuss about the banking union, namely the Single Supervisory Mechanism, the new Portuguese government’s policy and the progress of the Greek program. The meeting of finance ministers is expected to be concluded soon before 6 pm, Brussels time.

As for the Greek debt issue, the European official stressed that most EU countries agree with the evaluation of the Institutions that there is no need for a debt haircut, but for a debt restructuring.

Referring to the first evaluation, the official said the social security reform and other issues, as the taxation of farmers, would be of high importance. Due to the Christmas period, though, the first evaluation is not expected to be completed before February.