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Greece: Bailout repayment extension to 2020
Posted by keeptalkinggreece in Economy
There are 10 t0 12 hard years ahead. Greeks will be bound to the € 110 billion bailout package until 2020-2022. And that only if things will go smooth and Greek state shows commitment and capability to apply a strict control to its spending. Reading news like this, I prefer we stick to year 2010 and no got further…
Greece’s representative to the International Monetary Fund (IMF), Panagiotis Roumeliotis, on Friday was quoted as saying that the Washington D.C.-based institution has essentially approved an extension of the repayment period for Greece’s 110-billion-euro EU-ECB-IMF bailout package.
In a published interview carried by the Athens daily “Kathimerini” on Friday, Roumeliotis cites an extension to 2020.
”The three years of implementation of the programme, plus the two years for the loan repayment will become 4.5 years of a grace period followed by 5.5 years for the repayment,” he was quoted as saying.
Asked about the high-profile memorandum government the bailout, signed by the Greek government with the EU-ECB-IMF ‘troika’, he underlined that Greece had no other option or alternative plan in the state it had reached, saying that any other possibility would have led to bankruptcy.
(source: Athens News Agency)
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