ATHENS: Greece is due to make a formal request for a loan extension from eurozone finance ministers Thursday, declaring itself "optimistic" about a compromise plan despite EU scepticism and the spectre of a catastrophic "Grexit".
Athens was expected to send a letter to Jeroen Dijsselbloem, head of the Eurogroup of EU finance ministers, to request an extension of up to six months on its European loan agreement that would sidestep the duties 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.
"We are on the right path, I am optimistic it will end well tomorrow or the next day," Varoufakis told reporters on Wednesday.
"Our proposition will be written in such a way that it will cover both the demands of the Greek side and the head of the Eurogroup," he said.
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.
With the European portion of the bailout expiring at the end of February, Greece's creditors insist it needs extra financing to stave off the risk of a default and exit from the euro.
But after Greece said it was looking to request a loan extension from the eurozone without strings attached, warnings flooded in from the EU and US over the perils of losing valuable time with proposals that were doomed to fail.
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