Greece Could Ask for a Renegotiation of Bailout Terms

Greece may seek to ease its debt burden by renegotiating its bailout terms, the Greek finance minister said on Monday.

Yannis Stournaras told German newspaper Handelsblatt this could involve lower interest payments and more time to repay 240bn euros (£206bn) in loans.

It comes a day after he conceded that Greece may face a hole in its finances of up to 10bn euros.

Speculation over Athens’ borrowing needs comes at a sensitive time, with German elections due in September.

Earlier this month German Finance Minister Wolfgang Schaeuble said for the first time that Greece will need another bailout to plug a forthcoming funding gap.

The Greek bailout remains a sensitive topic in Germany. Chancellor Angela Merkel facing re-election on 22 September, and many German voters feel they have already contributed enough to European bailouts.

via BBC

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