ATHENS — Greek officials are planning to submit a proposal to eurozone finance ministers for breaking the impasse in debt negotiations between the new government in Athens and Greece’s European creditors.
Athens on Thursday will propose an extension of several months to the current bailout program, a government spokesman, Gavriil Sakellaridis, said on Wednesday. He declined to discuss specifics, including the length of the extension being sought, citing the delicacy of the negotiations.
But in email comments sent to reporters, the government indicated that Greece would seek a four-month extension of the current program, under which the country has received 240 billion euros, or $272 billion, in exchange for pursuing various economic overhauls.
Perhaps crucially, Mr. Sakellaridis said the proposal to extend the bailout program would not include a commitment to also extend the terms of the memorandum underlying the loan program that a former Greek government signed in 2012. That memorandum is seen by many Greeks as a contract binding the country to the austerity conditions they blame for undermining the economy and raising unemployment to its current level of 25 percent.