Greek plea for debt extension

Greek prime minister Antonis Samaras has appealed to his European counterparts for more time to meet his country's debt obligations. It appears that the head of the European Central Bank will not make any decision for at least another month.

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Merkel: Greece must 'continue on its path to reform'

The German Chancellor Angela Merkel made it clear that she expects Greece to stick to the austerity measures outlined in the terms of its bailout today.

German Chancellor Angela Merkel Credit: Stefan Rousseau/PA Wire

Speaking before a dinner meeting with France's President Hollande, she said: "We will, and I will, encourage Greece to continue on its path to reform".

She added: "We want ... Greece to be in the euro zone, it's a desire we have expressed since the start of the crisis. It's up to the Greeks to make the effort that is essential for that goal to be met."

Greek President Antonis Samaras will visit Berlin and Paris this week in the hope of persuading Europe's big powers that Greece deserves more time to deliver on its commitments.

UK, US and France welcome ECB 'standing firmly behind the Euro'

Downing Street have released a statement on the phone call conversations Prime Minister David Cameron has had with French President Francois Hollande and US President Barack Obama this evening.

The Prime Minister discussed the issue of Greece with President Hollande. Both welcomed the recent actions of the ECB and agreed that this did not negate the need for Greece to stabilise their own economy and prevent any further detrimental effects to the wider Eurozone.

In his conversation with Obama, Obama also welcomed the ECB announcements. The Prime Minister agreed that it was good news that the ECB was taking action and standing firmly behind the Euro.

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Dutch finance minister insists Greece must pay

Greek prime minister Antonis Samaras is due to meet with eurozone finance chief Jean-Claude Juncker today to ask for more time for his country to pay back their various loans.

Early responses from other single currency nations do not look very promising. Dutch finance minister Jan Kees de Jager said:

If it concerns delaying reforms and budget cuts, then it is not a good idea

Greece asks for 'breathing space' to pay debts

Greek prime minister Antonis Samaras says the country needs more time to pay back the loans. Credit: REUTERS/Louisa Gouliamaki

Greek prime minister Antonis Samaras has made an appeal to his European counterparts for more time to meet his country's debt obligations. In an interview with Germany's Bild newspaper he said:

"Let me be very explicit: we demand no additional money. We stand by our commitments and by fulfilling all our requirements. We have to crank up growth because that decreases the financial gaps."

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