EC source: Greek bailout extention a certainty

Mathematical probabilities point to an extention to Greece’s current bailout program

The prospect of an upcoming Greek government requesting an extension to the bailout program is deemed more certain than ever, as a source at the European Commission on Friday underlined that a review of the Greek program will not be completed by the end of February.

The same source said an extension to the Greek program is a “statistical certainty”, but declining to cite the extent of this, in terms of time. The general view, however, is that the extension will be of a longer duration than just a few weeks.

The same source said a precondition for an extension of the bailout program that ends next month is for the new Greek government to make a formal request.