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Deadlock in negotiations, and Eurogroup this afternoon

According to Dow Jones newswires (citing Eurozone officials) the 2 billion euros will not be disbursed today.

Creditors’ representatives are expected in Athens tomorrow. Home foreclosures, bad loans and VAT on private education remain the major unresolved issues.

Another deadlock in negotiations with creditors this past weekend. The three day teleconferences between them and the financial team of the government did not reach any agreement. Creditors rejected the improved Greek proposals regarding non-performing loans and home foreclosures.

The Euroworking group convenes this morning, followed by a crucial meeting of Eurozone’s finance minister this afternoon. Creditors are expected to demand- until Wednesday -all prior actions to be approved as law by the Parliament, in order to give the green light for the release of the 2 billion euros tranche to Greece. Creditors’ representatives are expected in Athens tomorrow.

Greek Prime Minister Alexis Tsipras had telephone contact with German Chancellor Angela Merkel, French President Francois Hollande and European Commission President Jean-Claude Juncker on Sunday to discuss the refugee crisis and the ongoing talks on Greece’s bailout program.

Following the telephone calls, the Greek PM’s press office issued an announcement that the calls were to inform EU partners about Tsipras’ upcoming visit to Turkey. During the calls, the leaders analyzed the Greek government’s proposals for protecting debtors’ first homes from foreclosure auctions. Tsipras maintains that the Greek position on foreclosures is compatible with the agreement struck between Greece and its EU partners in July.

The three EU leaders welcomed Tsipras’ initiative to visit Turkey as part of broader planning by the European partners to cooperate with Turkey for more effective management of the refugee and migration issue and particularly the fight against trafficking networks.