Eurogroup approved reforms in Greece and extended the financial assistance program for four months. IMF Managing Director Christine Lagarde said that the list of reforms did not meet the obligations pledged by Athens. On February 19 Greece sent an official request to Brussels for the credit extension for six months. The agreement with the eurozonewill expire on February 28. But the Greek government does not want to conduct negotiations over the financial support from the EU and IMF as this program requires austerity measures.
ECB said that it would not take part in the debt write-off and restructuring. German Chancellor Angela Merkel also excluded the possibility of the debt relief. According to the opinion poll, 48% of the Germans are in favor of Greece leaving the eurozone.
On February 1 finance minister of Greece Yanis Varoufakis noted that the country would not take any credits. He added that the current credit repayment should be connected with the economic development. Athens is not going to cooperate with the troika mission (the troika consists of the EC, ECB, and IMF).
The total sum of the debt amounts to € 320 billion.
