Is Greece About To 'Cave In' To The Demands Of The EU And Its Creditors?

New York Times: Tsipras Signals Greece May Accept Bailout Terms

ATHENS — The Greek government has indicated to its creditors that it is willing to accept many of the terms of a bailout package that it had earlier rejected, if they are part of a broader deal to address the country’s funding needs for the next two years, officials said on Wednesday.

The development raised the prospect of progress in resolving a financial crisis that has sent shudders through global markets and deeply strained European unity.

In a letter sent on Tuesday to the creditors — the European Central Bank, the International Monetary Fund and other eurozone countries — Prime Minister Alexis 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 on issues like pension cuts and tax increases. Mr. Tsipras linked Greece’s acceptance of the terms to a new package of bailout aid that would need to be negotiated.

WNU Editor: On the one hand the Greek government is making it known that they are about to accept the original EU demands for debt relief .... and now they are saying the opposite .... Tsipras Will Not Back Down On Referendum: Media Report (Zero Hedge). When conducting international diplomacy you need the other side to see you as someone who is trustful, honest, patient, and reliable .... these are (from my own experience) your assets and tools to use in order to get the other side to agree with your position .... or at a minimal .... some part of it. To say that Greek Prime Minister Alexis Tsipras and his government has squandered completely all of these "assets" is an understatement .... in my eyes he is someone who is not trustful, honest, patient .... and definitely not reliable .... and for Greece .... this is not going to end well.

More News On The Greek Debt Crisis

Greece appears to cave to demands, but Europe skeptical -- AP
Greece offers conditional okay to bailout, Germany sceptical -- Reuters
Greece debt crisis: Tsipras in new bailout 'concessions' -- BBC
Greece does about-face on bailout -- CNN
Greece eases snub of bailout demands but deal prospects remain unclear -- Washington Post
Euro zone officials doubt acceptance of new Greek proposal: sources -- Reuters