Bailout repayment extension for Greece

Greece's representative to the International Monetary Fund (IMF), Panagiotis Roumeliotis, on Friday was quoted as saying that the Washington D.C.-based institution has essentially approved an extension of the repayment period for Greece's 110-billion-euro EU-ECB-IMF bailout package.

In a published interview carried by the Athens daily "Kathimerini" on Friday, Roumeliotis cites an extension to 2020.ana-mpa

"The three years of implementation of the programme, plus the two years for the loan repayment will become 4.5 years of a grace period followed by5.5 years for the repayment," he was quoted as saying.

Asked about the high-profile memorandum government the bailout, signed by the Greek government with the EU-ECB-IMF 'troika', he underlined that Greece had no other option or alternative plan in the state it had reached, saying that any other possibility would have led to bankruptcy.