Greece will likely have to ask for a fresh extension to its bailout program because it expires on Feb. 28, a senior euro zone official said on Friday, Jan 23 stressing that a new government must first be in place to do so, Reuters reports.

"I could construct some constellations where it would be possible to finalize the fifth review (of the program) in February ... but I would consider this on the outer fringers probability," the official told reporters on condition of anonymity.

After two bailouts totaling 240 billion euros ($270 billion) since 2010, Greece wants to switch back to market financing, but snap elections on Sunday and the expected victory of radical leftists has renewed concerns about a Greek euro zone exit.