Greek Proposal For Loan Extension To Be Discussed In Brussels

Tsipras and Merkel spoke for just under an hour in a conversation that the Greek premier described on his Twitter account as being “in a positive climate” and showing “interest in finding a mutually beneficial solution for Greece and the eurozone.” Tsipras also spoke with French President Francois Hollande, sources said.

The exchanges followed hours of tensely-worded statements after the Greek government sent its keenly-awaited proposal to Eurogroup President Jeroen Dijsselbloem. The request was for a six-month extension of Greece’s loan agreement but under different conditions, government officials said in the morning. Later in the day, Finance Minister Yanis Varoufakis’s letter to Dijsselbloem was leaked to the media, indicating that the government recognizes the country’s existing bailout program as the legally-binding framework for the next six months though the document did not include the words “memorandum” or “program,” which the leftist-led government rejects. It also remained unclear which of the measures linked to the bailout program the government would commit to enforcing.

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