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Greece presses creditors for better debt repayment terms

Posted September 11

— Greece's prime minister is pressing for speedier action from bailout creditors to ease the country's huge debt burden.

Alexis Tsipras told reporters Sunday that Greece "has the right for a fair debt adjustment" after years of punishing spending and income cuts. He said the country "cannot wait much longer."

Greece's creditors have said they are prepared to discuss better repayment terms for the country's debt, which exceeds 175 percent of annual economic output.

Tsipras, who was re-elected a year ago to a four-year term after negotiating Greece's third bailout since 2010, ruled out early elections, saying the country needs political stability.

On Monday, Greek officials will meet in Athens with representatives of bailout creditors. The finance ministry says the talks will focus on fighting corruption and Greece's ambitious privatization program.

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