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Greece May Need Bailout Extension, EU Official Says

eurozoneGreece may need a new extension of its bailout program because it expires on February 28, a senior Eurozone official said on Friday.
The EU official, who chose to remain anonymous, added that Greece must have a government by then in order for the bailout extension to happen, according to Reuters.
“I could construct some constellations where it would be possible to finalize the fifth review (of the program) in February… But I would consider this on the outer fringes of probability,” the official told reporters.
After two bailouts totalling 240 billion euros since 2010, the Greek coalition government wanted to end the bailout program early and switch back to market financing. After failing that, snap elections followed and the expected victory of radical leftist party SYRIZA has renewed concerns about a Grexit.

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