EU says ready to be favourable on Greek repayment delay

EU finance ministers are ready to look favourably to extending the repayment period for Greece’s 110-billion-euro bailout, Economics Affairs Commissioner Olli Rehn said on Thursday.

“The council of EU financial ministers is ready to look positively into the extension of the repayment period of the loan,” Rehn said during a visit to Athens.

The possibility of the extension of the repayment of Greece’s three-year loan, which had been scheduled to be repaid by 2015, was first mooted when the EU-IMF agreed last month an 85-billion-euro (113-billion-dollar) bailout for Ireland with a considerably longer repayment period.

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