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The documents present a calculus by which for every five billion euros that will be offered, the prospective debt relief measures – such as extensions in loan repayment periods – will be reduced by two years.

Mitsotakis’ request came ahead of a crucial telephone conversation between PM Alexis Tsipras and FYROM Prime Minister Zoran Zaev.

The government will be sorely tested. The fiscal measures that are coming are heavy, especially for pensioners, while tax breaks and other compensatory measures will be smaller, and will depend on whether fiscal targets are met.

Kammenos, whose Independent Greeks party is the junior coalition partner in Tsipras’ government, has repeatedly declared that he will not vote for a settlement in which Greece acquiesces to the use of the name Macedonia by Skopje.

“We are in the last minutes of efforts for each side to come closer to the positions of the other, and when that happens we shall jointly announce the happy news for the residents of both countries,” Zaev said.

The super-fund for the exploitation of the assets of the Greek state will from now on be accountable to the European Stability Mechanism (ESM), which will compensated with up to 25bn euros if the state fails to pay loan instalments.

Planned tax breaks include a 700mn euro tax cuts package for businesses, and the tax rate on profits will be reduced from 29 percent to 26 percent.

At the moment, neighbouring Italy is threatened by a flare-up of the debt crisis, and if it occurs, it will stir new doubts and threaten a fragile Greek stabilisation.

Sources said that the reason for the delay was that Athens did not present adequate documentation that there has been progress in the payment of public sector arrears.

We have had enough of shadow boxing with the past on the FYROM naming issue. What happened ten, twenty, or thirty years ago is of little import today.

A Slovak Member of the European Parliament from the conservative European People’s Party (EPP) told a news conference yesterday that main opposition New Democracy leader Kyriakos Mitsotakis “will not be entirely negative” regarding a FYROM naming settlement.

The government of FYROM appears to be dragging its feet on sealing a settlement with Greece, in a possible bid to seek concessions from Athens, and is setting the EU summit later this month as a target deadline.

'Greece is the country that has attracted the largest number of coup plotters. The government truly wants to solve this. Greece is subjected to great pressure from the West, especially Greek judges,' the Turkish foreign minister said

' It is our duty to continue serving the aim of upgrading public education and its role in society,” Tsipras tweeted.

A satisfactory evaluation in the framework of the fourth tranche of economic aid to Greece would open the way for the Board of Directors to examine disbursal of the one billion euros earmarked for domestic arrears clearance.

Eurogroup President Mario Centeno underlined in a letter to eurozone finance ministers that Greece should have completed the remaining bailout preconditions by the 21 June Eurogroup meeting.

According to Mr. Gavroglu, the evaluation of teachers is a pretext for layoffs, and not a necessary process for upgrading the quality of education.

Reports in Skopje indicated that Zaev was given a 7 June deadline, by which time he will first contact UN mediator Matthew Nimetz and then the Greek side to say whether he accepts the package settlement that was agreed to in principle

Just as those who were in power in the past, the current government refuses to understand that pledges of handouts do not constitute a social policy, but rather an electoral strategy.

Properties in working class neighbourhoods (where tax valuations were low), tourist areas, and the islands will be those that will be burdened from the tax hikes