Eurogroup

The Radical Left Coalition (SYRIZA) is continuing to seek a solution to the current economic crisis but will not respond to ultimatums, said a government source. Athensis sticking to its belief that there should not be an extension of the bailout program known as the "memorandum" in response to reports that saw the light of day on Tuesday with references to a Greek change of stand.

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.

 Request sees bailout terms being set aside

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

By Eleni Varvitsioti

BRUSSELS - According to sources close to the discussions between Greece and the eurozone, the Greek government will submit a request to its lender on Wednesday for its loan agreement to be extended.

Intensive talks between the Greek side and the institutions are continuing.

Reuters and Dow Jones on Tuesday reported that Greece will ask for a bailout extension Wednesday. The news agency cited “sources”.

The report overturned the negative mood in US markets.

Forget ISIS or the war zone in eastern Ukraine, most of Europe's mass media led this week with coverage of the increasingly acrimonious talks between the leftist Greek government and its eurozone creditors.

An Ecofin meeting was completed in Brussels on Tuesday without any mention of the possibility of an agreement between the Greek government and the country's Euro zone partners.

The leftist Greek government reiterated on Tuesday its decision not to accept what it considers an ultimatum issued at a Eurogroup meeting by the country's eurzone creditors, according to which Greece must ask for an extension of the current bailout agreement (memorandum) by Friday.

By Renee Maltezou & Ingrid Melander

Talks between Greece and eurozone finance ministers over the country's debt crisis broke down on Monday when Athens rejected a proposal to request a six-month extension of its international bailout package as "unacceptable".

Greece "will not accept ultimatums" in last-ditch EU talks over the future of its reforms and cash support, a government source said Tuesday.

"The Greek government will not accept ultimatums. It is determined to honour its public mandate and the history of democracy in Europe," the source said as EU finance ministers were to meet again to discuss the Greek crisis.