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Germany rejects Greek request to extend loan agreement

Xinhua, February 19, 2015 Adjust font size:

Germany rejected a request from Greece on Thursday to extend its loan agreement with eurozone creditors, saying the Greek proposal did not meet previously agreed criteria decided by the Eurogroup on Monday.

"The letter from Athens is not a substantial solution proposal," said German finance ministry spokesman Martin Jaeger in a statement.

"In truth, it aims at a bridge financing, without meeting the requirements of the program," Jaeger said.

Earlier on Thursday, Greece submitted a request to the Euro Working Group for a six-month extension of the four-year bailout loan agreement in a bid to receive vital financial aid from the eurozone after the end of the current bailout period on Feb. 28 until it renegotiates with partners.

The newly elected left-wing government in Greece rejected the current bailout program and its, to them, harmful austerity clauses and asked for fresh debt relief.

Greece's eurozone creditors, led by Germany, requested Athens to respect commitments and stick to the fiscal adjustment and reform path. Endit