Greece may accept bailout terms

July 01, 2015 16:04

Just in: 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 New York Times reports that the development raised the prospect of progress in resolving a financial crisis that has sent shudders through global markets and deeply strained European unity.

Yesterday, EU authorities made a last-minute offer to salvage a bailout deal that could keep Greece in the euro as the clock ticked down with Germany warning that time had run out to extend vital credit lines to Athens.

The European Commission urged Greece to accept the proposed deal, while holding out hopes that some tweaks could still be possible.

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