Sources refer to 'insignificant' differences over out-of-court settlement process

Differences between creditors and the Greek government over the final framework for an out-of-court settlement process for arrears owed by business are reportedly not significant, with economy ministry officials, at least, expressing optimism that the issue can be concluded during the current round of negotiations.

The first meeting over the issue between the government side and creditors' representatives is scheduled for Wednesday.

According to ministry sources, creditors -- dubbed the "Institutions" by the leftist-rightist coalition government -- object to the following points in the draft framework unveiled by Athens, namely:

• An exclusion from the draft framework of arrears for VAT and income tax
• Verification of arrears with a deadline before Dec. 31, 2016
• An increase in the threshold for arrears, as the government currently eyes a figure of 20,000 euros.