Greece Willing to Compromise to Reach Deal

Greece is willing to compromise to reach a deal with its EU/IMF creditors that is acceptable to both sides and is ready to negotiate until the end of June to achieve this, the government said on Monday.

The comments struck a more conciliatory note after Prime Minister Alexis Tsipras’s outright rejection of a proposal from lenders last week, and suggested Athens is willing to make concessions despite anger within the ruling Syriza party over the austerity cuts needed to secure a deal.

Tsipras rejected on Friday as “absurd” international creditors’ terms for a cash-for-reform deal to keep Greece from default, prompting an angry response from European Commission President Jean-Claude Juncker.

But on Monday, government spokesman Gabriel Sakellaridis also left open the possibility of another extension to Greece’s bailout, a program that Tsipras had promised to scrap when he was elected earlier this year.

via Reuters

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza