No deal yet on debtor protection

The meeting between bank managers and government officials chaired by Prime Minister Alexis Tsipras at his office on Monday evening regarding the plan to provide protection for debtors' main residence ended inconclusively.

Although progress was made in reducing the distance between the two sides, it was clear there is still a long way to go before they reach a compromise, which will likely be very different to the blueprint sent to Greece's creditors.

Sources said that although the government has distanced itself from its original maximalist positions, it is still seeking to expand protection limits to more debtors. Government sources said Tsipras tried to get the four systemic banks to agree to a maximum limit on the value of protected homes of 150,000 euros, but the lenders consider this to be too high.

A key parameter for the success of the new system will...