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February 18, 2015

Greece to Seek Six-Month Loan Extension as Austerity Standoff Grows 
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Greece will reportedly submit a new request that the eurozone extend a
"loan agreement" for up to six months following the breakdown of talks
on revising the terms of an international bailout. Talks between Greece
and its European creditors collapsed this week amid disagreement over
the future of German-backed austerity. Germany says no new deal is being
offered and that Athens must stick to the terms of its existing bailout.
On Tuesday, Greek Prime Minister Alexis Tsipras said his government
wants a deal but will not compromise on its rejection of crippling
austerity.

Greek Prime Minister Alexis Tsipras: "We are not in a hurry, and we will
not compromise. We are, however, working hard for an honorable and
mutually beneficial solution—in other words, a solution without
austerity, without the bailout which destroyed Greece in the last years,
for an agreement without the toxic presence of the troika."

 

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