Greece Likely to Request Six-Month Extension of Bailout

Greece may request an extension of its loan agreement for six months, according to a person familiar with the matter, a step that could ease a standoff with creditors over the country’s future financing.

Prime Minister Alexis Tsipras’s government intends to make the request Wednesday, the person told reporters in Brussels, asking not to be named as the deliberations are private. Talks are continuing between Greece and its international creditors on the conditions that would be attached to the extension of the loan accord, the person said.

Greece and euro-area members have been at odds over the formula used to extend the country’s 240 billion-euro ($274 billion) rescue beyond its end of February expiry. Finance-minister level talks broke up on Monday evening in Brussels without another round being scheduled.

Bloomberg

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