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Greek PM seeks 30% debt haircut, grace period for 20 years

Friday, July 3, 2015 - 21:40
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Greece's Prime Minister Alexis Tsipras on Friday spelt out debt restructuring demands he wants international creditors to adopt, ahead of a weekend referendum he hopes will strengthen his position in negotiations.

[ATHENS] Greece's Prime Minister Alexis Tsipras on Friday spelt out debt restructuring demands he wants international creditors to adopt, ahead of a weekend referendum he hopes will strengthen his position in negotiations.

In a television address, Mr Tsipras called for "a 30 per cent haircut off the Greek debt" and "a 20-year grace period" for the rest, to ensure "the viability of debt" in Greece, which currently stands at nearly 180 per cent of its gross domestic product (GDP).

AFP

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