(VOVworld)- Athens on Thursday proposed an extension of several months to the current bailout program, which will expire on February 28.

The proposal aims to break the impasse in debt negotiations between the new government in Athens and Greece’s European creditors. Head of the Eurogroup Jeroen Dijsselbloem confirmed to have received Athens’ proposal saying that Eurogroup will call an extraordinary meeting on Friday in Brussels to discuss the proposal.

On Thursday, Germany’s Finance Ministry rejected the proposal saying it was "not a substantial solution" because it did not commit Athens to stick to the conditions of its international bailout.