European finance ministers are meeting today in Brussels for key talks on the financial future of Greece. On Thursday, Greece formally requested a six-month extension of its current loan deal, without making a firm commitment to the deep austerity cuts dictated under its international bailout. But German economy minister Sigmar Gabriel rejected the request.

Sigmar Gabriel: “We’ve recently received an offer from the Greek government, which has been made to all the EU member states as well as the Eurogroup, in which Greece for the first time accepts that without reforms there will be no European (financial) aid. That is a beginning. But we also have to say that this offer is insufficient because it lacks all specific measures in Greece. And that cannot happen. We cannot make it easier in Greece on the shoulders of German and European taxpayers. Over the next few days, especially tomorrow, we need to negotiate further to find an agreement on specific measures.”