Article Image
News Link • Economy - International

French banks agree to defer Greek loans

• http://english.aljazeera.net/
 

French banks have reached an outline agreement to roll over holdings of maturing Greek bonds as part of a wider European plan to avoid sovereign default.

Nicolas Sarkozy, the French president, said in Paris on Monday that the banks would be offered 30-year Greek bonds with a coupon equivalent to the euro zone's lending rate to Greece, plus a premium based on the financially troubled nation's future economic growth rate.

"We concluded that by stretching out the loans over 30 years, putting [interest rates] at the level of European loans, plus a premium indexed to future Greek growth, that would be a system that each country could find attractive," Sarkozy said.

Join us on our Social Networks:

 

Share this page with your friends on your favorite social network:


http://freedomsphoenix.thinkpenguin.com/