Greece to request for extension of bailout loan agreement on Wednesday

Greece will submit a request for a six-month extension of the bailout loan agreement on Wednesday, Greek national news agency AMNA reported on Tuesday evening.

The government’s letter will be based to large degree on European Commission’s proposals, the report said citing sources in Brussels close to the negotiations between Greece and its euro zone partners on the post- bailout cooperation.

According to the same sources, Athens aimed to distinguish the loan agreement from the four-year bailout program which the Left-led government has strongly rejected.

Greece was expected to request an extension to open the way for a new Eurogroup meeting on Friday after Monday’s deadlock at the previous talks of euro zone finance ministers in Brussels. Its partners warned that time was running out and by the weekend a compromise should be reached.

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