Debt: Greece wants to repay debts early again
With the new repayment, Athens' debt ratio will continue to decline. Will the country thereby cede the top spot for sovereign debt within the euro zone to Italy?
Greece plans to repay debts and loans worth 13 billion euros by the end of the year, according to the newspaper "Kathimerini". The early repayments will include 2.5 billion euros from the first Greece bailout package of 2010, which was originally due to be repaid by 2041, and 2.2 billion euros towards a government bond. The country will also reduce its short-term government bonds by 1.2 billion euros by the end of the year, saving around 360 million euros in interest per year.
This is not the first time Greece has made early repayments, having already repaid 6.9 billion euros in June, and the country expects its debt-to-GDP ratio to fall to 137% this year.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
