Greece is pushing its creditors to fix the borrowing costs on its massive debt pile at current low levels in a bid to save millions of euros in coupon payments if interest rates rise.
The priority is to fix the repayments on the largest chunk of the 228 billion euros owed to official creditors from its three financial rescue packages.
The 162.7 billion euros is owed to the European Financial Stability Facility and the European Stability Mechanism, created by euro zone governments to help countries in difficulty during Europe’s debt crisis, a government official said.
The EFSF and ESM borrow money to lend to Greece. Because they plan to borrow the money over a long period of time and pass on the costs to Greece, the…
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