Withdrawal from the European Union

Merkel Asks German Conservatives to Back Greek Bailout Extension

German Chancellor Angela Merkel has asked her conservative Christian Democratic Union to support the proposed extension of Greece's bailout programme in a parliament vote this week, AFP reported on Tuesday.

The eurozone finance ministers earlier in the day approved a four-month extension of the financial rescue programme for Greece after Athens issued a list of reform proposals.

WSJ: Greek tardiness in sending reforms list analyzed

The Wall Street Journal reports that the Greek government's awaited reform lists was pushed back to Tuesday morning as Greece failed to meet the Monday deadline. Eurozone finance ministers are due to review the proposed reforms to be put into place in exchange for continued funding for its 240-billion-euro bailout for another few months. Officials in Athens played down the missed deadline.

Greece to Delay Sending Reform List Until Tuesday

Greece will miss Monday's deadline for submitting a list of draft reforms aimed at securing an extension of its bailout programme and will send the list to its eurozone partners on Tuesday morning, according to insiders.

The list must be approved by international creditors to secure a four-month loan extension and help Greece avert bankruptcy.

Greece hopes for solution, still opposed to bailout, spokesman says

Greece has made every effort to reach a mutually beneficial agreement with its euro zone partners but will not be pushed to implement its old bailout program, its government spokesman said on Friday.

"The Greek government has done all it should at every level in an effort to find a mutually beneficial solution," government spokesman Gabriel Sakellaridis told Mega TV.

Schaeuble: Greece must decide what it wants

German Finance Minister Wolfgang Schaeuble stated after the conclusion of the Ecofin meeting that Greece must decide whether it wants an extension of a bailout program or not.

"Greece does not seem to know what it wants", he underlined. "We have always said that implementation of any program should be supervised by three institutions, whatever they are called."