Berlin rejects Greek plea to extend bailout for six months

While the European Commission welcomed the request from Alexis Tsipras, centre, Berlin was barely able to disguise its contempt
While the European Commission welcomed the request from Alexis Tsipras, centre, Berlin was barely able to disguise its contempt
ALAIN JOCARD/GETTY IMAGES

Greece’s new radical left government applied today for a six-month extension of its international bailout but Germany dismissed the request because it failed to renew Athens’ commitments to reform and spending cuts.

After two weeks of deadlock with the other 18 eurozone members, the government of Alexis Tsipras wrote to Brussels seeking the extension primarily as protection for the Greek banking system, which is under heavy pressure with the five-year €240 billion rescue ending on February 28.

Athens hopes that the extension will allow time to agree a longer-term aid programme that would keep Greece solvent, while also easing the terms of debt repayment. In return, Greece would speed up moves against tax evasion and corruption, but also take steps to spur growth and ease