Greece has asked its group of European creditors to give it a six-month loan extension, according to a tweet by the head of the Eurogroup, Jeroen Dijsselbloem.
Greece’s current bailout program expires on February 28 and markets have been concerned that the country is going to run out of money and could exit the eurozone.
The country is shouldering a massive debt load after receiving around 240 billion euros ($273 billion) in aid since 2010. The Greek government has been trying to negotiate better debt terms but its requests have been broadly turned down.
No word yet on how creditors will respond to this latest request.