Greek finance minister George Papaconstantinou says that there will be no need for a new emergency bailout loan when the current one expires in 2013 but refuses to rule out extending the repayment period.
Papaconstantinou says in an interview published Sunday in newspaper Real News that extending the repayment period of 110 billion euros ($154 billion) in loans provided by the EU and the IMF "if it is ever decided, will be a proof of trust and a recompense for our current efforts."
He adds that it would be premature to say if an extension is necessary. He says that "by 2013, Greece will be a country with better public finances and a stronger economy."
He says "we will not need further (bailouts) but to preserve what we will have accomplished by then."
© Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.