Greek leader wants action on easing debt load

Greek leader wants action on easing debt load | iNFOnews.ca
Greek Prime Minister Alexis Tsipras, left, welcomes European Commission President Jean-Claude Juncker, prior their meeting in Athens, on Tuesday, June 21, 2016. (AP Photo/Petros Giannakouris)

ATHENS, Greece – Greece’s prime minister is calling for bailout lenders to swiftly fulfil promises to ease the country’s heavy debt load.

Alexis Tsipras says that as well addressing the problem in the short term, the medium and long-term management of the debt should also be tackled.

Tsipras spoke following talks in Athens on Tuesday with European Union Commission President Jean-Claude Juncker.

Greece has depended on rescue loans since 2010, when it was locked out of bond markets.

Under its latest bailout, which is contingent on further spending cuts and economic reforms, talks are set to start on reducing the Greek debt burden — although an outright cut in the amount owed has been ruled out.

Finance Minister Euclid Tsakalotos said he hopes the debt talks can be concluded this year.

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