ATHENS: Greece’s international creditors have suggested extending the country’s bailout program until the end of March 2016, but disagreements over the conditions attached to the continued support and what would happen afterward risk undermining that plan, three people familiar with the negotiations said.
The eurozone’s portion of Greece’s €245 billion ($272 billion) rescue program runs out at the end of June, which has raised questions over how Athens will pay its debt beyond this month and remain in Europe’s currency union. To ensure that Greece doesn’t run out of money until the end of March, it would get access to some €10.9 billion that had been set aside under its old bailout for recapitalizing weak banks, the people said.
“What we offered would mean that Greece is fully financed until March 2016,” said one person, referring to a meeting last week between European Commission President Jean-Claude Juncker, Greek Prime Minister Alexis Tsipras and Jeroen Dijsselbloem, the Dutch finance minister who represents eurozone governments in the talks.
