Thursday, February 19, 2015

Germany rejects 6 month extension from Greece

Germany has rejected a Greek request for a six-month extension to its eurozone loan program.

The rejection came despite the European Commission calling the Greek request "positive" only minutes earlier.

Greece had sought a new six-month assistance package, rather than a renewal of the existing deal that comes with tough austerity conditions.
However, a German finance ministry spokesman said the new plea was "not a substantial proposal for a solution".

Later on Thursday, Greek prime minister Alexis Tsipras and German chancellor Angela Merkel spoke by telephone, according to the Reuters news agency.
One Greek government official described the 50-minute call as "constructive", adding: "The conversation was held in a positive climate, geared towards finding a mutually beneficial solution for Greece and the eurozone."

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