BRUSSELS: The EU on Wednesday said efforts were under way to forge a compromise between Athens and its sceptical eurozone partners on extending Greece's bailout agreement.
"We are now working to see if it is possible to find a common ground for an extension of the current programme," said Valdis Dombrovskis, the European Commission's vice president for the euro.
"The best way forward is to extend the existing programme with its conditionality," he told a press briefing.
An application by Athens to extend Greece's current bailout programme is expected early Thursday in Brussels, but the opposing sides remain wide apart.
Greece has signalled it wants to extend the loan agreement without the austerity commitments made in return for its 240 billion euro ($270 billion) bailout, which expires on February 28.
"We need to see on paper what exactly the Greek government is requesting and only then we would be able to comment," Dombrovskis said.
"It depends a little bit on what is understood by the term 'loan agreement'," he added.
The commission, the EU's executive arm, has no vote in determining the way forward for Greece's debt problem, with all decisions regarding the eurozone up to the single currency's 19 members, grouped together in the Eurogroup.
Sources in Brussels said a meeting of top officials from the Eurogroup was set for Thursday to consider the expected Greek proposal.
That meeting could then set up a ministers meeting for the following day.
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