Germany Rejects Greece Request

Germany shocked Europe-watchers Thursday after it rejected a request from Greece to extend its euro zone loan program by six months, a day before the deadline.

The Greek government submitted a letter early Thursday to the finance ministers of the euro zone, the Eurogroup, requesting a six-month assistance package, rather than an extension of the bailout, which would come with austerity and reform conditions.

“In truth it goes in the direction of a bridge financing, without fulfilling the demands of the program. The letter does not meet the criteria agreed by the Eurogroup on Monday,” German finance ministry spokesman Martin Jaeger said in a statement.

CNBC

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