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Sunday, July 12, 2015

Greek talks eye 25 billion euro bank recap, doubling debt maturities

By Paul Taylor and Jan Strupczewski BRUSSELS (Reuters) - Euro zone finance ministers were told on Saturday that some 25 billion euros (18 billion pounds) of any bailout loan to Greece would be needed to recapitalise banks that are on the verge of collapse, sources close to the discussions said. Among other variables in negotiations on a possible package of Greek reforms in return for new loans, the International Monetary Fund is urging euro zone governments to reschedule Greek debts, with one scenario being a doubling of loan maturities to 60 years from 30 to ease Athens' repayment burden. Prime Minister Alexis Tsipras applied this week for a three-year loan from the European Stability Mechanism of 53.5 billion euros.


READ THE ORIGINAL POST AT uk.news.yahoo.com