Thursday 21 September 2017

Greece crisis: Greece intends to 'seek extension of loan agreement Wednesday'

Greek Finance Minister Yanis Varoufakis in Brussels. Photo: Getty
Greek Finance Minister Yanis Varoufakis in Brussels. Photo: Getty
Greek Finance Minister Yanis Varoufakis and German Finance Minister Wolfgang Schaeuble (L) look discontent as they address a news conference following talks at the finance ministry in Berlin. Photo: Reuters

Renee Maltezou

Greece intends to ask for an extension of its loan agreement with the euro zone on Wednesday, a source in Brussels said, distinguishing this from the country's full bailout programme.

Speaking on condition of anonymity, the source said that Athens would request up to a six month extension but the conditions were still under negotiation.

The new government of Prime Minister Alexis Tsipras has refused to seek an extension of Greece's bailout programme which expires on Feb. 28, rejecting its requirements that austerity policies be imposed.

However, Tsipras has made a distinction between the full bailout programme and the issue of Greece's debts. "A loan agreement is different from a bailout," Tsipras told lawmakers from his left-wing Syriza party in Athens earlier in the day.

Reuters

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