Extension of Greece's bailout program a possibility as Brussels, Athens wrestle over austerity

Government And Institutions Associated Press

Eurozone finance ministers are discussing what to do about Greece's expiring bailout deal.

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European Union loans are due to stop at year end as Greece recovers from its economic crisis and debt default. Greece would then be switched from bailout loans to a standby credit line with less onerous conditions.

But first the EU and Greece have to agree the country has met the conditions for its current bailout money. The latest budget has raised concerns it is based on unrealistic assumptions. While the two sides haggle, one option is an extension.

Jeroen Dijsselbloem, head of the eurozone finance ministers' group, said Monday he was "not confident" about meeting deadlines over Greece and urged all parties "to go as far as possible before the year is over."