Hopes Increase for a Greek Compromise

Despite the strident attitude taken by Greece’s new prime minister over the weekend, the plan that the country will present to its creditors among the euro zone finance ministers on Wednesday is likely to be somewhat softer in tone, CNBC has learned.

Greek Finance Minister Yanis Varoufakis will meet with the so-called Eurogroup on Wednesday with a series of requests that are based on suggestions made in 2013 by the Organization for Economic Cooperation and Development that were designed to make Greece’s economy more competitive.

One of the proposals being put forth by Varoufakis will be the scrapping of one-third of the reforms imposed by Greece’s creditors and their “memorandum of understanding,” and instead replaced by reforms suggested by the OECD, according to finance ministry sources who spoke on condition of anonymity during a background briefing.

CNBC

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