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Layoffs and loans top agenda of troika talks

Finance Minister Gikas Hardouvelis presented Greece's economic progress to troika representatives of Greece's lenders at a meeting in Paris on Tuesday evening.

In statements earlier, Hardouvelis had said Greece "is entirely within targets" agreed with the troika, which confirmed it, according to sources, while the minister spoke of the need to recognize in practical ways the sacrifices of the Greek people.

According to sources, the troika will meet in succession with the following ministers, with Hardouvelis present - Development and Competitiveness' Nikos Dendias, Justice's Charalambos Athanasiou, Labour's Yiannis Vroutsis and Administrative Reform's Kyriakos Mitsotakis.

Issues regarding red loans, public sector layoffs, as well as the acceleration of auctions will top today's meetings.

There will follow a quick review on Thursday morning, when the initial conclusions from the assessments will be drawn, to be followed by a press briefing.

The Greek mission is due to depart for Athens on Thursday evening.

The troika's sixth evaluation of the Greek economy will start in Athens in the last ten days of September.

The Ministry of Finance presented yesterday in Paris its plans regarding auctions, red loans and mortgages, issues that will be discussed in further detail today.

The Ministry presented a program of subsidizing monthly payments of mortgages found in the red after the outbreak of the crisis, which will be complementary to banking regulation plans with a view to the progressive liberalization of auctions from the beginning of 2015.

On the issue of red loans, a new plan was presented that provides for an installment escalation depending on the amount of the overdue payments and financial situation of the debtor. There will be a possibility for 24-100 installments or more. Moreover, it provides for some kind of “special treatment” for those who have overdue payments from 2010 onwards and a minimum installment, depending on the amount of total debt, which might be at 50 euros.