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3 years ago
Greek economy minister: better to link repayments to growth -Der Spiegel
January 31, 2015 / 3:32 PM / 3 years ago

Greek economy minister: better to link repayments to growth -Der Spiegel

BERLIN, Jan 31 (Reuters) - Greece's economy minister said it would be better to link the country's debt repayments to its economic growth rate as it needs a feasible solution to bring its sovereign debt under control.

"At the moment, we spend around five percent of gross domestic product on servicing our debt. ...It would be better if we linked the repayment to growth: if growth is higher, we pay more, if it is lower, we pay less," Georgios Stathakis said in an interview with German weekly magazine Der Spiegel.

Athens faces about 10 billion euros ($11 billion) in repayments this summer and is shut out of international bond markets while it waits for a final bailout tranche from international lenders of 7.2 billion. (Writing by Paul Carrel; Editing by Louise Ireland)

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