Austrian official says Greece to get more time to repay loans
Published Sunday, September 16, 2012 10:49AM EDT
VIENNA - Austria's finance minister says Greece will get more time to repay the loans it received from international creditors.
Maria Fekter told Austrian newspaper Oesterreich in an interview published Sunday that the extension would be "cost neutral."
Greece is struggling to repay some of its debts because a $39.7 billion loan installment from the European Commission, the European Central Bank and the International Monetary Fund has been held up.
The country's creditors want Athens to cut a further $14.8 billion in budget costs over the next two years against fierce opposition from labour unions.