ATHENS—Greece’s government signaled Monday it was prepared to abide by many of the reforms contained in its current bailout, though the finance minister said about a third of them would be suspended or reversed.

With its cash reserves shrinking quickly and ahead of a meeting of eurozone finance ministers this week, Greek Finance Minister Yanis Varoufakis told parliament that the majority of reforms contained in the current bailout would be part of Greece’s own proposals to its eurozone peers.

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