Greece Bailout Extension Provides for No Additional Funds - German Minister

BERLIN (Sputnik) — The Greek bailout program’s four-month extension does not mean extra funds will be allocated to the country, German Finance Minister Wolfgang Schaeuble told the Bundestag on Friday.

The German parliament is set to discuss assistance to Greece and vote in favor or against the extension of the aid package later in the day.

"We are not talking about new billions. We are not talking about any changes to this program. The idea is to provide additional time for successful completion of this program," Schaeuble stressed.

The minister added that Germany has "to do everything in order to keep Europe united."

The deadline for Greece's bailout program, overseen by the so-called troika of international money lenders — the European Commission, the International Monetary Fund and the European Central Bank — expires on February 28. Without an extension or restructuring of its debt, Greece risks bankruptcy and even be forced out of the eurozone.

The Greek government submitted a list of reforms to be carried out in exchange for approval from their international creditors to secure a four-month loan extension on Monday.

The Eurozone finance ministers announced on Tuesday that they considered this list of measures presented by the Greek authorities to be sufficiently comprehensive and approved a four-month extension to the Greek bailout program. Now the extension needs to be ratified by the Eurozone member states.