EU Considers Another Bailout Extension For Greece: Reports

The can is about to be kicked further down the road for Greece. According to media reports out on Thursday, senior eurozone officials are considering granting a four-month extension to Greece's current bailout. That could give Athens breathing room to come up with a comprehensive list of reforms that will satisfy its lenders. Greece could receive about 4 billion euros ($4.5 billion) in immediate funding in return for reforms in the VAT system, German daily Suddeutsche Zeitung reported. The overhauls to Greece's labor market and pensions system would then be delayed until after the summer. German Chancellor Angela Merkel and Greek Prime Minister Alexis Tsipras will meet later on Thursday on the sidelines of an EU summit in Riga and are expected to discuss the bailout-extension plan. Athens is at risk of running of out cash in coming weeks unless it receives more bailout funds.