Greece: Greater willingness to reach compromise

FXStreet (Bali) - There has been some encouraging news over the weekend, suggesting that a possible Greek deal may be achieved during the following week, Reuters reports, citing comments from the Greek Interior Minister Nikos Voutsis, who said Greece is open for a compromise to strike a much-needed deal before a June 5th payment deadline with the IMF.

According to Voutsis, the Greek government may be willing to backtrack some of its electoral promises, which means delaying to implement certain anti-austerity programs previously anticipated by Syriza's voters, so that an unlock of the tense negotiations with its international creditors can hopefully take place.

Voutsis told Skai television, "we believe that we can and we must have a solution and a deal within the week," adding "some parts of our program could be pushed back by six months or maybe by a year, so that there is some balance."

As noted by Valeria Bednarik, Chief Analyst at FXStreet, "the comment would have been different if coming from Tsipras or Varoufakis, yet indeed it means a step in the right direction." Despite being a positive input for the Euro, its value against the US Dollar remains unaltered, treading water just below 1.10 offers.