Creditors offer Greece five-month bailout extension

Greece’s creditors have proposed a five-month bailout programme extension and €15.5 billion of funding to resolve a stand-off with Prime Minister Alexis Tsipras’s government, said a European official.

The proposal by Greece’s three creditor institutions - the International Monetary Fund, the European Central Bank and the European Commission - would extend Greece’s bailout programme through November, the official told reporters in Brussels, asking not to named because negotiations are ongoing.

The proposal is ...