Greece to need another bailout extension -euro zone official

January 23, 2015 5:55 PM

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BRUSSELS (Reuters) – Greece will have to ask for a new extension to its euro zone bailout programme before 1.8 billion euros in pending aid can be paid, a senior euro zone official said on Friday, stressing that a new government must first be in place to do so.

Greece’s programme with the euro zone expires on Feb. 28. Although the International Monetary Fund will continue to back Athens, the country needs to be under an European accord to receive the final euro zone loans and to be eligible for support from the European Central Bank.

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