Germany’s Merkel Cool to Greece Bailout Compromise

German Chancellor Angela Merkel signaled little willingness to compromise with Greece over the conditions attached to its bailout as the country tries to drum up support for a bridge funding plan before a euro-area finance ministers’ meeting on Wednesday.

Greece will seek about 10 billion euros ($11.3 billion) in short-term financing as it tries to stave off a funding crunch while buying time to push its creditors to ease austerity demands, said a government official who asked not to be named because the negotiations are confidential.

While French Finance Minister Michel Sapin said Monday that “we need to put together” a plan for bridge funding, any such accord would require Germany to soften its stance in the standoff between Greece and its creditors over the conditions attached to its 240 billion-euro lifeline. The impasse risks leaving Europe’s most-indebted state without any funding as of the end of this month, when its current bailout expires, putting Greece’s euro membership in danger.

Bloomberg

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