Merkel Ally Signals Greek Breaks

Concessions are possible as long as Greece is willing to meet main bailout targets, German lawmaker says.

Concessions are possible for Greece so long as Prime Minister Antonis Samaras shows a willingness to meet the main targets set out in his country’s bailout program, a senior lawmaker with Chancellor Angela Merkel’s party said.

A precedent for program adjustments was made with the first Greek bailout, when the country secured lower interest rates and longer maturities on bilateral loans than those originally set, Norbert Barthle, the Christian Democratic Union’s budget spokesman in parliament, said today in a telephone interview.

Parliament Approval

The German Parliament’s Budget Committee would be called upon to approve any adjustments to Greece’s program rather than a vote going to the full plenary session, Barthle said. That would probably make the concessions easier to pass.

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