Media reports citing a six-month extension of the Greek program generated a lightning quick denial by German Finance Minister Wolfgang Schaeuble, who spoke after the G-20 meeting in Istanbul today. According to Bloomberg, Schaeuble said such reports are “false.” A plan to extend Greece’s current bailout program by six months -sans the attached austerity- circulated on Tuesday, ahead of Wednesday’s Eurogroup meeting, with the MNI news agency quoting Brussels “sources.” According to reports by financial agency Deutsche Boerse, the Commission will propose a reduced primary surplus target of between 1.5% to 2%, while the European Central Bank (ECB) will accept Greek bonds as collateral again, or so the press report claimed.
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