The Radical Left Coalition (SYRIZA) is continuing to seek a solution to the current economic crisis but will not respond to ultimatums, said a government source. Athensis sticking to its belief that there should not be an extension of the bailout program known as the “memorandum” in response to reports that saw the light of day on Tuesday with references to a Greek change of stand.

Proto Thema reported that the Greek side would request a margin until August is being submitted to Brussels by the Ministry of Finance on Wednesday. Sources state that the word “extension” in this agreement refers to the loan framework and not to the “memorandum”.

“We are considering the possibility of extending the loan agreement, differentiating it completely from the bailout program / memorandum,” said government sources, adding that this compromise is a sign that Athens is willing to work with EU factions without coming into open conflict.

SYRIZA’s legal circles explain that this interim agreement is completely different to an extension. It would allow Greece to serve its obligations without causing problems to the European economy.

Eurogroup Chief Jeroen Dijsselbloem will examine the Greek proposal and it will further be presented at a Eurogroup meeting on Friday. The government appears optimistic that officials in Brussels will respond positively to its text with hopes pinned on backstage negotiations with French and Italian government officials as well as European Commission President Jean-Claude Juncker.

The only problem that could dampen the arrangement would be intrangisence on the part of the German government.