Greece to unveil new loan proposal in Grexit gamble

[WorldNews]

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Greece is due to make a formal request for a loan extension from eurozone finance ministers on Thursday, saying it is "optimistic" about a compromise with EU and ECB to avoid a looming "Grexit". Athens was expected to send a letter to Jeroen Dijsselbloem, head of the Eurogroup, to request an extension of up to six months on its European loan agreement that would sidestep the restrictions of a full-blown bailout. Greek Finance Minister Yanis Varoufakis insisted a deal was still possible even after a firm preemptive "nein" from EU paymaster Germany to its planned offer. Europe and Greece are racing to reach a deal to avoid a Greek exit from the eurozone -- dubbed a "Grexit" -- after talks in Brussels ended in acrimony on Monday with both sides digging in their heels.

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