Greece to seek to stretch maturity of rescue loans to up to 50 years

Greece will formally propose stretching the maturity of its international rescue loans to up to 50 years as part of measures to make its debt sustainable, a senior Greek finance ministry official said on Wednesday.

Greece will also propose lowering the interest rate on the rescue loans it has received bilaterally from eurozone countries, or alternatively switching them to fixed-rate from floating-rate, the official told Reuters.