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.
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