German delegation at EuroWorking group “softening” its stance

An EU and a Greek flag fly in front of the ancient Parthenon templeAccording to sources on Thursday evening, the German delegation at the EuroWorking group has backed off its previously unbending position vis-à-vis a same-day Greek request for a loan agreement extension.

A report by Bloomberg out of Brussels also cited a distinct change in the German attitude.

The Greek government tabled the six-month extension request on Thursday morning, only to earn a stiff rebuff by Berlin, and most notably by German FinMin Wolfgang Schauble.

The development, if it pans out, increases the likelihood of a positive outcome at Friday’s Eurogroup meeting in Brussels, which will examine the Greek request.

Athens has been feverishly promoting its positions this week in search of a compromise with its eurozone partners and creditors.

Along those lines, PM Alexis Tsipras held a 50-minute phone conversation with Chancellor Angela Merkel, along with Italian PM Matteo Renzi and EU Commissioner Jean Claude Juncker. He closed out his contacts with EU leaders by speaking on the phone with French President Francois Hollande.

After his contacts, Tsipras tweeted this: “Phone conservation earlier with Ms. Merkel in a positive tone and in the direction of a mutually beneficial solution for Greece and eurozone”.

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