Germany may give a little

Germany seems willing to give a little on Greece, not with new money but with easier terms on debt owed and possibly some more time to meet budget targets. A German government official said for Greece that “small concessions are feasible…for instance, the interest and maturity on loans could be adjusted.” The EU head meets with Samaras tomorrow ahead of Samaras seeing Merkel and Hollande later on in the week. The Greece bond maturing in Feb ’23 is up to the best level since early May, albeit at only 20.5 cents on the euro. In sympathy to possibly looser terms, the debt of Ireland, Portugal, Spain and Italy are all higher.

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