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Total disagreement with Troika over bank recapitalization.

The meeting between Bank of Greece governor Giorgos Provopoulos and the Troika auditors concerning the banks recapitalization ended up in total disagreement.

The difference of opinion was on the level of additional funding required for the banks' liquidity. The BoG side considers the cash flow needs of the Greek banks at around 6 billion euros, while the Troika representatives calculate it at closer to 10 billion.

After this estimate drift, the Bank Of Greece will be publishing the results of the Greek Banks stress tests unilaterally by the end of the week. These tests are from a study by Blackrock asset managing company, which the auditors dispute.

According to government sources, the main reason for the drift is the IMF estimates as to the funding required, which are too high and the Fund's insistence on these figures. That led to a communication breakdown which, given that the BoG governor is leaving for Frankfurt on Wednesday, looks permanent.

Meanwhile the government is desperate for a few words of encouragement from the Troika concerning the negotiations, ahead of the crucial Eurogroup meeting next Monday. If a positive statement doesn't arrive by then, the next installment of the loan is in jeopardy.