Chances of timely deal for protection of borrowers' homes are decreasing

The government will on Wednesday attempt via another conference call to find common ground with the country's creditors on the new protection framework for borrowers' primary residences after Tuesday's fruitless effort, with just five days left until the March 25 Euro Working Group.

Repeated previous attempts have failed, and after Tuesday's conference call government sources said that the differences between the two sides remain on most major aspects of the plan that will replace the obsolete provisions of the Katseli law.

The creditors are particularly opposed to the so-called perimeter of the new framework, arguing that it is too broad and is not limited to borrowers who are truly unable to repay their loans. This, the creditors add, damages the already weak payment culture in Greece and does not rule out strategic defaulters.

There are also serious...