Handelsblatt: Schäuble agrees with ESM proposal regarding Greek debt

1 December 2016
184 Views

The German Ministry is in agreement, at least in principle, with the ESM’s proposal regarding the restructuring of Greece’s debt, according to an article in Handelsblatt.

The German financial newspaper’s claims concur with the Wall Street Journal in that the ESM proposal includes an extension on the repayment of certain bonds in 30 years and the use of interest rate swap. In addition, the creditors will give Greece an extra margin of four years on some old loans and abolish the penalty on non-valid repayment.

As a result, Greece will “save” 220 million Euros in 2017. If all the measures the ESM proposes are taken, the Greek debt will be reduced by 21,8% of the GDP by 2060.

According to the Handelsblatt: “In principle, the German Finance Ministry appears to be in favor of the solution.”

You may be interested

US Amb Pyatt: The stronger Greece is, the more it can act as a stabilizing force in the region
GREECE
shares20 views
GREECE
shares20 views

US Amb Pyatt: The stronger Greece is, the more it can act as a stabilizing force in the region

makis - Apr 20, 2018

Greece can act as a stabilizing force for good in the wider region and the stronger Greece is, the better…

Kotzias – Dimitrov to meet again on April 25, in Vienna
POLITICS
shares21 views
POLITICS
shares21 views

Kotzias – Dimitrov to meet again on April 25, in Vienna

makis - Apr 20, 2018

According to the FYROM government spokesman, Mile Bosnjakovski who spoke on Friday, there will be a new meeting between the…

Alexandros Stamatiadis dies in hospital
GREECE
shares38 views
GREECE
shares38 views

Alexandros Stamatiadis dies in hospital

makis - Apr 20, 2018

Greek businessman Alexandros Stamatiadis has died after being hospitalised in critical condition for 18 days. The businessman, 52, was shot…

Leave a Comment

Your email address will not be published.