Euro Zone Considers Longer Greek Bailout

Euro zone ministers are considering extending Greece’s bailout by six months to mid-2015, according to a document obtained by Reuters, but Athens said it was only willing to consider an extension of a few weeks to the unpopular program.

Extending the program beyond a few weeks into the new year would complicate Prime Minister Antonis Samaras’ efforts to secure victory for his preferred candidate in a presidential vote in February. He had depended on exiting the EU/IMF bailout by the end of the year, when funding from the EU is due to end.

“Greece has not received any written proposal on an extension,” a government official told Reuters. “In any case, everything that the prime minister and Finance Minister (Gikas) Hardouvelis has said stands — that Greece can discuss only a technical extension, which cannot be longer than a few weeks.”

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