ECONOMY

SYRIZA proposes freezing interest on bailout loans to give Greek economy breathing space

A SYRIZA government would ask Greece’s eurozone partners to wave the interest on its bailout loans until the country returns to growth, the party’s spokesman for development issues, Giorgos Stathakis told Skai radio on Monday.

Stathakis said that if Greece is excused interest payments over the next few years, it would save 5 to 6 billion euros a year.

The SYRIZA MP said that if in power, the leftists would use this money for public investments or some other kind of investment fund to stimulate the economy.

He said that Greece could start repaying the interest on its loans once the growth rate reaches between 2 and 3 percent.

Stathakis denied that SYRIZA intended to use the money to make hirings in the public sector and said that it was committed to running a balanced budget.