New property rates the most difficult issue in fourth program review, says senior official

The introduction of new property rates used for tax purposes, known as “objective values”, is the most difficult technical issue among the prior actions of the fourth program review currently being discussed with the institutions, a senior finance ministry official said on Wednesday, after a meeting with the mission chiefs in Athens.

The official said the two sides are exchanging views on how to make progress faster.

Asked whether the institutions had raised the issue of the tax-free threshold, he said no issues have been discussed that concern the period after the bailout expires. Concerning the electronic foreclosure auctions, the official said the government gave the institutions data from the justice ministry, adding “we are doing much better on the geographic criterion.”

On the out-of-court settlement of debts, he said the new economy minister -expected to be announced later today- will discuss the issue. Asked whether they are discussing the creation of a bad bank for the non-performing loans, he responded that “we still have a long way to go”, adding that banks will go through the stress tests first.

Concerning the IMF’s position on Greece’s program, he said “it has changed for the better” since last summer and has remained like that. s