Greece wants rescue loan repayment stretched to 70 years

Written by on May 5, 2014 in Europe - Comments Off on Greece wants rescue loan repayment stretched to 70 years

The May 5 2014 Eurogroup meeting could prove one of the most important yet in Greece’s economic recovery quest.

Greek finance minister Yannis Stournaras is expected to request that Greece is granted debt relief. Having achieved a primary surplus of 1.5 billion euro in 2013, the country has qualified for talks to begin on how its huge sovereign debt issue will be addressed, Stournaras will tell his counterparts.

A Eurogroup meeting almost one and a half years ago resulted in Greece being promised debt relief should it achieve a primary surplus and pushed through troika-backed reforms.

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