Handelsblatt: EU no longer insists on extending current Greek programme

handesGreece’s European partners no longer insist on Greece asking for an extension of the current bailout, the German economic newspaper “Handelsblatt” said on Monday, citing senior EU officials, adding that a new one could be signed.

Instead of extending the programme, double-digit billions of credits could be transferred from the old to the new bailout programme, the report said, so that Athens could be, at least theoretically, in a position to renegotiate the terms.

According to German Finance Minister Wolfgang Schaeuble’s circles, the newspaper added, the support can be given only in exchange for reforms. “We are patient, but faithful to our principles,” the German Finance ministry underlined.

The newspaper also said that this is a critical week for Greece’s stay in the eurozone referring to today’s Eurogroup and the ECB meeting on Wednesday, during which they will raise the issue of the extension of emergency aid for the Greek banks (ELA).