Dijsselbloem: An extension of the current bailout programme is the best solution

A request by Greece to extend the current bailout programme is the most appropriate solution, Eurogroup President Jeroen Dijsselbloem said shortly after the end of the meeting of Eurozone’s finance ministers on Monday evening. 

"Today at the Eurogroup we discussed how to move forward and we continue to believe that the best way to move forward is for the Greek authorities to submit a request extending the programme," the Eurogroup chief said. 

Dijsselbloem noted Greece will have to submit a request within the next few days and once it does, the EU will be ready to convene an extraordinary Eurogroup meeting on Friday. He also noted that the request will be based on Greece’s commitments and that it’s up to the country's government to decide if they want an extension and if they’ll provide the necessary commitments. 

The Eurogroup chief also noted that there is room for flexibility within the framework of the existing programme, on condition that agreed targets will not be abandoned. When Greece asks for an extension, any changes will have to be approved by the three institutions which will review the programme’s progress.