Reuters revealed Wednesday that Greece is planning to ask for a 50-year extension to its repayment of loans from its international creditors.
“Greece will formally propose stretching the maturity of its international rescue loans to up to 50 years as part of measures to make its debt sustainable, a senior Greek finance ministry official said on Wednesday,” the news agency reported.
Among other proposals, Greece will also suggest a reduction of the interest rate on bilateral rescue loans from other eurozone countries. Alternatively, according to the article, Greece will ask that interest rates be switched from floating to fixed.
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