Germany holds up Greek bid for euro zone loan extension

A man adjusts a Greek (L) and a European flag outside the Greek embassy in Brussels February 19, 2015. REUTERS/Yves Herman

ATHENS/BRUSSELS (Reuters) - Germany rejected a Greek proposal for a six-month extension to its euro zone loan agreement on Thursday, saying it was "not a substantial solution" because it did not commit Athens to stick to the conditions of its international bailout.

Berlin's stance, describing the carefully worded Greek letter as a "Trojan horse" for shirking commitments, set the scene for tough talks at a crucial meeting of euro zone finance ministers on Friday. Greece's leftist-led government is scrabbling to avoid running out of money within weeks and will face pressure to make further concessions in Brussels.