Greece's government confirmed it would ask on Wednesday, Feb 18 for an extension to its loan agreement with the euro zone, which it distinguishes from its full bailout program, according to Reuters.

"Let's wait today for the request for an extension of the loan contract to be submitted by Finance Minister (Yanis) Varoufakis," government spokesman Gabriel Sakellaridis told Greece's Antenna TV when asked if an initial draft text rejected at this week's meeting of euro zone finance ministers would form the basis of the proposal.

"All along deliberations are going on to find common ground, we want to believe that we are on a good path. We are coming to the table to find a solution."

He reiterated that the government would not back down on issues that it considers "red lines" or non-negotiable issues.