Request for a six-month extension to the bailout loan agreement

The same sources say Greece will request an extension until the end of August and the relevant explanatory letter which will accompany the request will be based to large degree on the European Commission's proposals included in the so-called "Moscovici document" which was leaked to the press on Monday.

If the explanatory letter submitted satisfies Greece’s European partners, then Eurogroup President Jeroen Dijsselbloem will call an extraordinary meeting on Friday.

Eurozone sources say that for the funding of Greece’s loan agreement to continue, the country will have to accept some terms and conditions and Dijsselbloem, along with Greece’s partners, will examine whether these conditions are included in the Greek request.

The same sources said Athens does not want a rift with Europe and is willing to find a solution and that the main issue now is for the content of the request to satisfy all sides.