Economy Minister Giorgos Stathakis will discuss the issue of “red loans”, the non-performing loans and indebted households, in a meeting with the representatives of the three institutions on Thursday.

The heads of institutions are currently in Athens to discuss the progress of the implementation of the Greek program.

According to sources, Greek government’s proposal aims to protect citizens from residence auctioning, suggesting the total amount of debt to be up to 300,000 euros and the annual income at 35,000. The government believes that this proposal will cover over 88% of indebted households.

However, Greece’s lenders will request the total amount of debt not to exceed 120,000 euros and that the household income is near the poverty line at 5,000 euros.