BREAKING NEWS

Austria favors giving Greece time to repay debt

By REUTERS

AUGUST 26, 2012 15:55

VIENNA - Greece should get more time to repay its debts provided that it sticks to reforms and savings targets agreed with the European Union, Austrian Chancellor Werner Faymann said in an interview published on Sunday.

"I see quite a good chance that we will arrive at an outcome with Greece that the Greeks stick to their agreements with the EU but in return get more time for the repayment," Faymann told Oesterreich newspaper.

"The most important thing is that the Greeks stick to the reforms and savings targets agreed with us. If that is guaranteed, I am in favor of a delay in the repayment. That could be a delay of two or three years - the experts should decide that," he said.

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