Tsipras seeks 30% haircut off Greek debt

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 stands at nearly 180 per cent of GDP.

He also said an International Monetary Fund (IMF) analysis showing Greece's debt is unsustainable justifies his government's decision to reject an aid package from creditors that offered no debt relief.

Mr Tsipras renewed his appeal to Greeks to vote against the bailout package and say "no" to blackmail and ultimatums. "Yesterday an event…