Expand / Collapse search
Watch TV
Menu

This material may not be published, broadcast, rewritten, or redistributed. ©2024 FOX News Network, LLC. All rights reserved. Quotes displayed in real-time or delayed by at least 15 minutes. Market data provided by Factset. Powered and implemented by FactSet Digital Solutions. Legal Statement. Mutual Fund and ETF data provided by Refinitiv Lipper.

Europe

Greece warns of 'devastating results' without debt relief

Associated Press
Published | Updated
  • 3acca4da-
    Image 1 of 3

    Greece' Prime Minister Alexis Tsipras walks on stage to deliver his speech during his party congress in Athens, Thursday, Oct. 13, 2016. European lawmakers supportive of Greece's left-wing government are urging the European Commission to act swiftly on debt relief for the bailed out eurozone member, warning that delays would produce "devastating results" for its economy. (AP Photo/Petros Giannakouris) (The Associated Press)

  • 2b87f0e2-
    Image 2 of 3

    Greece' Prime Minister Alexis Tsipras delivers his speech during his party congress in Athens, Thursday, Oct. 13, 2016. European lawmakers supportive of Greece's left-wing government are urging the European Commission to act swiftly on debt relief for the bailed out eurozone member, warning that delays would produce "devastating results" for its economy. (AP Photo/Petros Giannakouris) (The Associated Press)

  • 1c9e9f78-
    Image 3 of 3

    Greece' Prime Minister Alexis Tsipras delivers his speech during his party congress in Athens, Thursday, Oct. 13, 2016. European lawmakers supportive of Greece's left-wing government are urging the European Commission to act swiftly on debt relief for the bailed out eurozone member, warning that delays would produce "devastating results" for its economy. (AP Photo/Petros Giannakouris) (The Associated Press)

ATHENS, Greece – Europeans lawmakers supportive of Greece's left-wing government are urging the European Commission to act swiftly on debt relief for the bailed out eurozone member, warning that delays would produce "devastating results" for its economy.

In a letter Thursday to EU Finance Commissioner Pierre Moscovici, 36 lawmakers from Greece's ruling Syriza party and European allies parties urged the EU to press eurozone bailout lenders to start negotiating new terms on the whopping 315 billion euro ($347.5 billion) Greek national debt. That would entail longer maturities and a smoother repayment schedule.

Creditors are committed to improving terms, but lead eurozone lender Germany and the International Monetary Fund are at odds over the urgency, with several eurozone members arguing Greece already has generous repayment terms and has delayed vital structural reforms.