March 5, 2011
Countries that share the euro currency must grant debt-strapped Greece and Ireland easier terms on loans they have provided, European Monetary Affairs Commissioner Olli Rehn told a German newspaper.
In comments to be published in Monday's edition of Handelsblatt business daily, Rehn recognized appeals from both countries that conditions on financial bailout loans be eased.
"There is a danger we could overburden both countries with overly strict credit conditions ... (The euro zone must) lower interest on loans for Greece and Ireland," he said.
The time frame of loans to Greece should also be doubled to seven years from three-and-a-half years, he added.
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