Greece signals summer concessions in bailout talks

Greek Finance Minister Yanis Varoufakis has indicated his country’s left-wing government could make concessions on key demands by bailout lenders over the summer, after a deal is reached to unlock pending rescue funds.

But Varoufakis said he would «not move an inch» on those issues until that initial agreement is reached, while insisting it would be possible in the «next few days.”

He made the comments Thursday as his reshuffled negotiating team prepared to meet bailout inspectors in Brussels. He accused lenders of imposing «technical asphyxiation» by withholding money the country needs to force it to take more austerity measures.

The confrontation has taken its toll on the fragile Greek economy. Late Wednesday, Moody’s ratings agency further downgraded the country’s sovereign rating to Caa2 from Caa1, two notches above default.


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