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> Economy

Reuters: EC willing to offer a six-month Greek program extension

Of course, the extension would first have to be officially requested by the new Greek government.

Newsroom January 17 11:16

According to a Reuters report, European Commission officials have been discussing the possibility of offering an extension to Greece’s bailout program by up to six months.

The purpose of this extension is to provide more time for talks with the new government that will be formed after the Greek elections, regarding the closing of the current program and the next steps for the country.

Of course, the extension would first have to be officially requested by the new Greek government.

Euro zone officials told Reuters that the extension beyond February, when the current bailout will run out, is inevitable.

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Athens had hoped to replace this program with an Enhanced Conditions Credit Line (ECCL) that it would never have to use.

However, this option doesn’t seem so likely now, due to the increased political uncertainty in the country.

 

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