Government cautious on Greece bailout initiative 06:14 French initiative would see Greece avert default by extending some of its debt for as long as 30 years

ARTHUR BEESLEY in Brussels and RUADHÁN Mac CORMAIC in Paris The Government has given a cautious welcome to a French initiative to help Greece avert default by extending some of its debt for as long as 30 years. The plan, unveiled yesterday by President Nicolas Sarkozy, is supported by French banks,….