Greece is considering requesting an extension to its current loan agreement with its European creditors, but without the onerous duties that come with a full-blown bailout, a government source said Tuesday.
The news comes as Athens and its eurozone partners race to find a solution to the crisis before the European part of the massive bailout expires at the end of the month.
Greece "is contemplating asking for an extension of the European loan, distinguishing it clearly from the memorandum," the source said, referring to the deal signed with the EU under the country's former centre-right government.
Talks aimed at resolving the impasse ended bitterly on Monday with both sides digging into their positions and Brussels handing Athens an ultimatum.
Greece's finance minister insisted however a deal could be found by the end of the week.