BBG report saying Germany wants one reform up front in exchange for the money
Germany to consider settling for one Greek reform up front.
That's great news in terms of convergence on a Greek deal. It just says they're 'considering' it but it's progress.
From Bloomberg:
Chancellor Angela Merkel's government may be satisfied with Greece committing to at least one economic reform sought by creditors to open the door to bailout funds, according to two people familiar with Germany's position.
While the Germans still insist on a package of steps that includes higher taxes, state asset sales and less generous retirement benefits, they may settle for a clear commitment by the Greek government to a measure up front to unlock aid, said the people, who asked not to be identified discussing the government's negotiating stance.
...
The euro is immediately up to 1.1350 from 1.1325. I think this is the kind of headline that's worth buying.
