Date
26 May 2017
German Chancellor Angela Merkel meets with Greek Prime Minister Alexis Tsipras in Brussels on Wednesday. Photo: Reuters
German Chancellor Angela Merkel meets with Greek Prime Minister Alexis Tsipras in Brussels on Wednesday. Photo: Reuters

Germany may agree to staggered deal on Greece bailout

Germany may be satisfied with Greece committing to at least one economic reform sought by creditors to open the door to bailout funds, Bloomberg News reported, citing sources.

While Chancellor Angela Merkel’s government still insists on a package of steps that includes higher taxes, state asset sales and less generous retirement benefits, it may settle for a clear commitment by the Greek government to a measure up front to unlock aid, according to people familiar with Germany’s position.

With Greece’s aid program set to expire on June 30 and no deal in sight, the comments reflect more German flexibility than the government’s public statements.

Merkel and French President Francois Hollande may hold talks with Greek Prime Minister Alexis Tsipras on the sidelines of a European Union summit on Wednesday to try to break the impasse.

“Where there’s a will, there’s a way,” Merkel told reporters as she arrived in Brussels.

“The goal is to keep Greece in the euro area.”

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