More money, more time


Greece should get cheaper rates on its 130 billion euro aid deal and at least two more years from the European Union and International Monetary Fund to repay them, the chief negotiator of the country’s private sector creditors said on Tuesday.
But better terms could only come after Athens delivers on commitments it has made to fiscal reform, Charles Dallara, managing director of the Institute of International Finance (IIF), told a news conference while on a trip to Beijing.
“Once that has been done, and I am confident it will be done, Europe and the IMF should move quickly to extend the adjustment period for at least two years and provide the modest additional financial support for that extension to be effective,” Dallara said. “Only some 15-20 billion euros is needed.