Alexis Tsipras

Greece offered to accept conditions on an extension to its loan agreements with the eurozone, and even an inspection by the European Commission, at a fraught meeting in Brussels on Monday, documents released by Athens showed.

Prime Minister Alexis Tsipras expressed his optimism on Wednesday that Greece will overcome the current crisis its in and move forward.

In the short dialogue he had with outgoing President Karolos Papoulias upon his arrival at the Presidential Mansion for their scheduled meeting, the Prime Minister characterized the current situation as very "critical" for the country.

By George Georgiopoulos & John O'Donnell

Greece will submit a request to the eurozone on Wednesday to extend a "loan agreement" for up to six months but EU paymaster Germany says no such deal is on offer and Athens must stick to the terms of its existing international bailout.

Greece will submit a request to the euro zone on Wednesday to extend a "loan agreement" for up to six months but EU paymaster Germany says no such deal is on offer and Athens must stick to the terms of its existing international bailout.
  

Greece is likely to submit on Wednesday a request to the Eurogroup for a six-month extension of its loan agreement with the troika of international creditors.

Athens will request an extension of its loan agreement rather than its programme, which could lead to complications, daily Kathimerini reports.

Prime Minister Alexis Tsipras will meet with outgoing President of the Republic Karolos Papoulias on Wednesday.

The meeting will take place at the Presidential Mansion at 12.00 pm (Athens time) in view of the Presidential Election to be held today at 19.30 in the Greek parliament.

Greece is on the brink on catastrophe as it is running out of cash and the talks with its European partners have reached an impasse, The Economist says today in an article.

European stocks advanced amid investor speculation that Greece and its euro-area creditors may reach a compromise agreement on its bailout.

The Stoxx Europe 600 Index added 0.3 percent to 378.14 at 8:05 a.m. in London. Stocks were little changed on Tuesday as a rise in makers of food and drinks offset a drop in Greek equities.

By Alexis Papachelas

The EU is a complex yet flexible institution. That said, it is important that you always have an idea of who you are talking to, who makes the hard decisions and who you can rely on in times of need.

The Radical Left Coalition (SYRIZA) gave a lukewarm reception to Prime Minister Alexis Tsipras' proposal of Prokopis Pavlopoulos - a 65-year-old constitutional lawyer - for the honorary post of President of the Republic. The choice came as a surprise as his name had not been mentioned in discussions speculating the identity of SYRIZA's candidate.