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    New Greek Finance Minister Yanis Varoufakis attends a handover ceremony in Athens on January 28, 2015

    Greece Confirms Loan Extension Request to Eurozone

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    Greece's Gordian Knot: Syriza Tackles Austerity (404)
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    Yanis Varoufakis, finance minister of Greece, confirms that Greece will ask Eurozone finance ministers for an extension to its loan.

    MOSCOW (Sputnik) — Greece will ask Eurozone finance ministers for an extension to its loan, the country's finance minister said Wednesday.

    "We should extend the loan program a few months to have sufficient stability so that we can negotiate a new agreement between Greece and Europe," Yanis Varoufakis told the German ZDF broadcaster.

    Varoufakis will ask for a six-month loan extension, a spokesman for Greece's new anti-austerity government told local media.

    On Monday, the latest attempt to reach a bridge agreement on Greece's bailout plan with the Eurozone before the February 28 deadline collapsed.

    Greece's newly elected government, led by the leftist Syriza party, has vowed to revise Greece's highly unpopular austerity measures, aimed to meet the bailout conditions set by international creditors. Greece's total government debt amounts to $367 billion, or 170 percent of the GDP.

    Greece's Gordian Knot: Syriza Tackles Austerity (404)


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