Greece To Try For Loan Extension From Eurozone

  • by XpatAthens
  • Thursday, 19 February 2015
Greece To Try For Loan Extension From Eurozone

Greece is set to submit Wednesday to the Eurogroup a request for a six-month extension to its loan agreement with its creditors, sources close to the negotiations between Athens and the eurozone told Kathimerini Tuesday.

While the request from Athens could help the two sides overcome the impasse reached at Monday’s Eurogroup, the fact that Greece will purportedly ask to extend its loan agreement rather than its program could lead to complications.

The Greek side is apparently willing to agree to a moratorium on any steps that could affect the country’s fiscal targets and is ready to discuss other measures but is not willing to adopt the terms of the existing bailout. The proposal is due to be sent to Eurogroup chief Jeroen Dijsselbloem this morning and the Dutch finance minister will decide if it merits calling an extraordinary meeting of eurozone finance chiefs for Friday.

A European Union official told Kathimerini’s Brussels correspondent Eleni Varvitsioti that the problem with Greece asking for an extension of its loan agreement and not the terms that come with it may create problems in parliaments such as Germany’s, which have to approve the prolongation of the agreement.

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