Schaeuble pours cold water on loan extension plan

German Finance Minister Wolfgang Schaeuble has poured cold water on speculation that Greece will on Wednesday request an extension of its loan agreement for six months.

Speaking on German broadcaster ZDF late Tuesday, Schaeuble said Greece was trying to receive the funds, without meeting the necessary conditions.

“It’s not about an extension of the loan program, it’s about whether this program is fulfilled, yes or no,” Schaeuble said.

“I don’t have any new information, but there is no loan agreement, it’s an assistance program. And in this seemingly unimportant detail lies the key: Greece would like to receive credit, but not fulfill the conditions to allow Greece to recover economically,” the German minister said.

Sources close to the negotiations between Athens and the eurozone told Kathimerini Tuesday that Greece is set to submit Wednesday to the Eurogroup a request for a six-month extension to its loan agreement with its creditors.