Tranche

The Finance Ministry is working on a new settlement plan for tax debts in up to 120 tranches for salaried workers, pensioners and those who do not qualify for the out-of-court mechanism.

The government proposed on Friday an out-of-court settlement model to banks for the debts that individuals owe to them, which foresees the subsidization of payment tranches so as to protect the main residences of debtors who are unable to meet the requirements of their arrangements.

The government is considering popular measures such as extending the protection of main residences to all, a new 120-tranche debt payment scheme, increasing the amount of farmers' protected bank deposits to 10,000 euros, and early heating oil subsidy payments in order to change the political agenda and put a stop to the rise in New Democracy's popularity.

Hundreds of thousands of self-employed professionals are seeking a lifeline in the 120-tranche arrears payment scheme, as they struggle to keep their heads above water due to pressure from the increases in social security contributions and taxes.

The platform for the new payment program is expected to be activated in February.

Friday's Euro Working Group gave its nod in a conference call for the in-principle completion of the third bailout review.

The eurozone finance ministries' senior officials agreed that 89 out of the 113 prior actions have been fulfilled, and the rest will have to be covered by the first disbursement of the money set aside for the third review.

The European Stability Mechanism's decision regarding the disbursement of the 7.7-billion-euro tranche to Greece was on Wednesday postponed until Friday, provided that all prior actions required have been satisfied by then.

Arriving at the EuroGroup meeting, German Finance Minister Wolfgang Schauble predicted that there would be a deal on the Greek matter and the next scheduled tranche would be released.

European Union Currency Commissioner Pierre Moscovici said on Wednesday he expects Greece and its international lenders to reach a compromise deal on new loans this week and that a "fair solution" will be found on debt relief.

German Finance Minister Wolfgang Schaeuble was quoted in a newspaper interview on Sunday saying that Greece has made strong progress towards introducing reforms that could lead to the imminent release of further financial support.

German Finance Minister Wolfgang Schaeuble was quoted in a newspaper interview on Sunday saying that Greece has made strong progress towards introducing reforms that could lead to the imminent release of further financial support.