Schaeuble denies reports of Greek debt extension

German Finance Minister Wolfgang Schaeuble on Tuesday rejected speculation that the European Commission will propose giving Greece six months to negotiate a new deal with its creditors, according to Bloomberg.

A report by MNSI news wire, citing sources, said the Commission would table a compromise proposal whereby Greece would ask for a six-month period during which it would discuss and agree with lenders all pending issues and a post-bailout plan.

In comments made after the G-20 meeting in Istanbul, Turkey, Schaeuble said that reports were “wrong.”

Schaeuble also said he did not expect ministers to agree on a new Greek program in Wednesday’s meeting.