As the clock is ticking, it seems that German Chancellor Angela Merkel is willing to make a significant compromise, at least in order to push back the deadline for now. This also comes as outflows from Greek banks intensify, and the ECB is experiencing increased exposure.
According to reports, Germany is willing to accept only one reform from Greece in order to release bailout funds, that will eventually be used to pay back loans and prevent Greece from defaulting, something that looked very close in recent days.
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