Tsipras Signals Greece May Accept Bailout Terms

Tsipras Signals Greece May Accept Bailout Terms

Wednesday, July 1, 2015 6:21 AM EDT

The Greek government has signaled 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 key 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.

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