Greece Loan Extension

Greece wants to reach a loan deal with its EU-IMF creditors by the end of May to resolve an acute cash shortage, the government said today.

Greek Finance Minister Yanis Varoufakis said the talks had shown elections could bring change to Europe. He insisted he had averted "recessionary measures" and said the government still hoped to raise the minimum wage and rehire some public sector workers.

Eurozone finance ministers agreed Friday to extend Greece's bailout loan programme, overcoming strong German reservations, diplomatic sources said.

With its EU/IMF bailout programme due to expire in little more than a week, the government of leftist Prime Minister Alexis Tsipras urgently needs to secure a financial lifeline to keep the country afloat beyond late March.

Greece wants to reach a loan deal with its EU-IMF creditors by the end of May to resolve an acute cash shortage, the government said today.

Greek Finance Minister Yanis Varoufakis said the talks had shown elections could bring change to Europe. He insisted he had averted "recessionary measures" and said the government still hoped to raise the minimum wage and rehire some public sector workers.

Eurozone finance ministers agreed Friday to extend Greece's bailout loan programme, overcoming strong German reservations, diplomatic sources said.

With its EU/IMF bailout programme due to expire in little more than a week, the government of leftist Prime Minister Alexis Tsipras urgently needs to secure a financial lifeline to keep the country afloat beyond late March.