Greece may be given extra time to repay EU/IMF loan

EU Commissioner for Economic and Financial Affairs Olli Rehn said on Sunday (November 28th) that Greece may be given more time to repay a 110 billion-euro emergency loan that the bloc and the IMF extended to the country in May. Finance ministers have agreed to look into the possibility of extending the deadline for repayment from three to seven and a half years, Rehn said, explaining that the move would aim to bring Greece’s loan package in line with an 85 billion-euro bailout announced for Ireland on Sunday.