Media reports citing a six-month extension of the Greek program generated a lightning quick denial by German Finance Minister Wolfgang Schaeuble.

According to Bloomberg, Schaeuble said such reports are “false”.

A plan to extend the current bailout program for Greece by six months — sans the attached austerity — circulated on Tuesday ahead of Wednesday eurogroup meeting, with the MNI news agency quoting Brussels “sources”.

According to the same reports by the Deutsche Boerse financial agency, the Commission will propose a reduced primary surplus target of between 1.5% to 2%, while the ECB will accept Greek bonds as collaterals again, or so the press report claimed.