“Short-term Greek debt relief proposals in next few weeks”
The head of the European Stability Mechanism Klaus Regling revealed that he will present his proposals for short-term debt relief for Greece in the next few weeks.
In his interview for French newspaper Les Echos, Mr. Regling underlined three aspects of these short-term measures, the first of which is the normalization of the Greek debt repayment periods. This, he added, is already taking place and estimated that the average debt maturity is 28 years, which could potentially increase to 32 years.
The second step is reducing the interest rate risk, namely to protect Greece for future interest rate growth. Finally, Mr. Regling pointed out that there is a huge interest rate increase in a small part of the Greek debt in 2017, which he intends to ‘eliminate’, saving hundreds of millions of euros.
You may be interested
Enjoy the traditional Greek loukoumadesPanos - Dec 06, 2019
According to Greek tradition, Loukoumades are made over the Christmas period and served on special Feast Days, as during the…
800 Ancient Roman amphorae confirm 6th AD shipwreck off Akrotiri-Dreamers Bay in CyprusPanos - Dec 06, 2019
The discovery of 800 Roman amphorae dating to the end of the 6th or the 7th century AD and scattered…
The Greek island teacher who goes to school by dinghyPanos - Dec 06, 2019
When 27-year-old Despina Anthoulaki applied last summer for the position of substitute teacher, she could not imagine that this year…