NEWS

Germany rejects Greek proposal as ‘no substantial solution’

Germany on Thursday rejected a request by Greece to its European partners for a six-month extension to its EU loan programme, saying it was “not a substantial proposal for a solution”.

“The letter from Athens is not a substantial proposal for a solution,” said a spokesman for German Finance Minister Wolfgang Schaeuble in a short statement.

“In truth it aims at bridge financing, without meeting the requirements of the programme. The letter does not meet the criteria agreed upon in the Eurogroup on Monday.”

[AFP]