Germany Makes Concessions to Close Greek Bailout Review, Spiegel says

Sunday, March 5th, 2017
Last Update: 17:45

Germany is abandoning its hard stance and makes new concessions in negotiations so that Greece’s bailout program review is completed, Spiegel magazine says.

The report published in the electronic edition of the German magazine says that, “There is mobility in negotiations between Greece and European partners.”

Spiegel quotes a senior Greek government official who said, “We are very close to an agreement.” According to the report, this means that the German government is ready to provide the Alexis Tsipras government with more debt relief measures before 2018.

The relief could be in the form of re-pricing loans and extension on the time the loans are due. Berlin also reportedly no longer insists on a primary surplus of 3.5% for ten years. Both requirements are removed from the hitherto positions.

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