Schaeuble: If Greece doesn’t want new program, ‘that’s it.’ Getty ImagesCan Wolfgang Schaeuble, left, and Greek Finance Minister Yanis Varoufakis find common ground?It seemed like wishful thinking from the start, but German Finance Minister Wolfgang Schaeuble made it official Tuesday: There won’t be any quick resolution of the latest version of the Greek debt crisis. European equities and U.S. stock index futures got an added lift Tuesday morning as headlines and rumors floated the prospect of a six-month extension of Greece’s bailout program, which would presumably allow the country’s new antiausterity government to negotiate a new pact with its creditors while avoiding default. Then Schaeuble stepped in, telling reporters at the Group of 20 meeting in Istanbul that such speculation was the stuff of fantasy. There would be no hasty deal reached Wednesday when the so-called Eurogroup of eurozone finance ministers gather for an emergency meeting in Brussels. Talk of any sort of “bridging” was “false,” he said, according to Dow Jones Newswires. Moreover, he signaled that Berlin hasn’t budged when it comes to its demand that Greece stick to the elements of its existing bailout program, rejecting the newly-elected Greek government’s call to scrap the bailout and end much of the austerity that’s accompanied the crushing, years-long depression that’s followed the country’s financial implosion in 2010. If Greece doesn’t want a new program, “then that’s it,” Schaeuble said, according to Reuters. For there to be an agreement, Athens and Berlin will have to come to some sort of agreement. Germany is the eurozone’s largest economy and there can be no deal without the consent of the region’s so-called paymaster. At the same time, the Greek government has sent conflicting signals, taking a hard-line against continued austerity and the so-called troika of international creditors—the European Commission, European Central Bank and International Monetary Fund—that have held the country’s feet to the fire. But Greece has also backed away from some demands, including the elimination of portions of its debt. Greece also plans to go ahead with the privatization of the country’s main port of Piraeus—another demand by its creditors—after having previously pledged to freeze the deal, The Wall Street Journal reported. Finance Minister Yanis Varoufakis also told parliament Monday that Greece would abide by 70% or so of the reforms demanded under the current bailout program. The clock is ticking. Greece’s current bailout plan expires on Feb. 28 and some analysts fear the country could run out of money before then. But a deal doesn’t need to be struck on Wednesday. European Union leaders will hold a summit meeting on Thursday, offering an opportunity for more high-level negotiation. A regularly-scheduled Eurogroup meeting follows on Feb. 16. William Watts