Tsipras Signals Greece May Accept Bailout Terms

Tsipras Signals Greece May Accept Bailout Terms

ATHENS — An unexpected new effort by Greece to compromise with its creditors on a bailout package prompted a cool response from most of the rest of Europe on Wednesday as the financial pressures on Athens intensified and efforts to find a way out of the crisis remained chaotic.

On another day of twists and turns, Prime Minister Alexis Tsipras’s government reversed course and said it would be willing to accept many of the terms of a bailout package that it had previously rejected, if they are part of a broader deal to address the country’s funding needs for the next two years.

While reviving hopes for a deal to end Greece’s latest financial crisis, the seeming reversal by Mr. Tsipras further underscored the confusion over his strategy as well as over where the monthslong muddle of negotiations now stood. The sudden turn of events raised questions about what offer was actually still on the table for Greece, whether Mr. Tsipras would still go ahead with a referendum scheduled for Sunday on a deal and, if so, what deal Greeks would actually be voting on.In a letter sent on Tuesday to the creditors — the European Central Bank, the International Monetary Fund and other eurozone countries — Mr. Tsipras said Greece was “prepared to accept” a deal set out publicly over the weekend by the creditors, with small modifications to some of the central points of contention: pension cuts and tax increases. In the letter, released publicly on Wednesday, Mr. Tsipras linked Greece’s acceptance of the terms to a new package of bailout aid that would need to be negotiated.

Source: Tsipras Signals Greece May Accept Bailout Terms – The New York Times