Germany to Greece: No Loan for You

On Thursday, Germany rejected Greece’s request for a six-month eurozone loan extension, with German Finance Minister Wolfgang Schaeuble calling it “not a substantial proposal for a solution.” He added that the request was an attempt at “bridge financing, without meeting the requirements of the program. The letter does not meet the criteria agreed upon in the eurogroup on Monday.” Greece had asked for an extension instead of a renewal of its current deal, which comes with tough spending cuts.