Greek bailout extension request a positive sign, says European Commission

The Greek request for a six-month extension of its current bailout, filed by Athens on Thursday, is a positive sign for reaching a compromise on the financial stability of the eurozone, the European Commission said on Thursday.

“(European Commission) President Juncker sees this letter as a positive sign, which, in his assessment, could pave the way for a reasonable compromise in the interest of the financial stability in the euro area as a whole,” Commission spokesman Margaritis Schinas told a news briefing.

“The detailed assessment of the letter and the response is now up to the Eurogroup,” he said, referring to eurozone finance ministers who meet in Brussels on the issue on Friday at 1400 GMT (10:00 a.m EST).

Meanwhile, on the same day Germany rejected the Greek request arguing that it was not a substantial proposal for reaching a solution.

[Reuters, Kathimerini English Edition]