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Euro Working Group: German delegation softening position?

The German representation at the EuroWorking group has backed down from its previously inflexible position vis-à-vis a Greek request for a loan agreement extension, tendered on Thursday, according to sources.

A report by Bloomberg out of Brussels also cited a distinct change in the German attitude.

The Greek government tabled the six-month extension request on Thursday morning, only to be sternly rebuffed by Berlin, and German FinMin Wolfgang Schauble.

This, if true, increases the likelihood of a positive outcome at Friday’s Eurogroup meeting in Brussels, which will examine the Greek request.

Athens has been feverishly promoting its positions this week in search of a compromise with its eurozone partners and creditors.

Along those lines, PM Alexis Tsipras held a 50-minute phone conversation with Chancellor Angela Merkel, along with Italian PM Matteo Renzi and EU Commissioner Jean Claude Juncker. He closed out his contacts with EU leaders by speaking on the phone with French President Francois Hollande.

After his contacts, Tsipras tweeted this: “Phone conservation earlier with Ms. Merkel in a positive tone and in the direction of a mutually beneficial solution for Greece and eurozone”.