Euro area leaders thrash out Greece deal

Greek flag

Euro area leaders met in Brussels on Thursday to agree on a comprehensive package for Greece that is expected to include measures to extend maturities on loans to Greece, in what has been described as a "European Marshall Plan".

A leaked draft proposal, published by the Daily Telegraph, showed euro area leaders backed a move to lengthen the maturity of the European Financial Stability Facility (EFSF) loans to Greece from 7.5 years to a minimum of 15 years, with interest rates of about 3.5%. The

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