Rehn: Ease bailout terms

European Union Economic and Monetary Affairs Commis-sioner Olli Rehn on Saturday was quoted as stressing that European governments should ease bailout terms for EU member-states Greece and Ireland amid talks to resolve the current punishing debt crisis.

He was quoted by the Dusseldorf daily “Handelsblatt”.

“Both countries need lower interest rates on aid loans, and Greece’s repayment period should be extended to seven years from four-and-a-half years,” the high-profile EU Commissioner was quoted as saying.