Eurozone refuses bailout extension

Brussels, June 30 

Eurozone finance ministers declined to extend Greece's bailout today hours before its expiry and a possible IMF default but talks will continue tomorrow after Athens asked for a new aid plan, officials said.

Greek Prime Minister Alexis Tsipras requested a two-year rescue deal with the European Union to save the crisis-hit country, just hours before the European part of its EU-IMF bailout expires.

Tsipras also requested a short extension to its current bailout programme to avoid a "technical default," with a 1.5 billion euro payment due to the International Monetary Fund imminently.

But after a conference call to discuss the last-minute proposal, EU politicians confirmed that they had not agreed to it.

"Last deadline for Greece programme extension was weekend. Due to parliamentary procedures, unable to extend programme beyond today," Slovakia's Finance Minister Peter Kazimir wrote on Twitter.

Finnish Finance Minister Alex Stubb said an extension was "not possible", adding requests for a new rescue programme with the European Stability Mechanism (ESM), the EU's bailout vehicle, "is always dealt with through normal procedures." — AFP