BIS central bankers’ speeches  3  •  Hence, smoothing interest payments over time (in particular over the period 2022– 2030), along the lines of the Eurogroup decision of 27 November 2012, will provide significant positive effects on growth and improve debt dynamics without imposing costs to creditors.
•  Research at the Bank of Greece suggests that smoothing the interest-to-GDP ratio over the critical period of 2022–2030 by gradually removing interest payments to future years may have a significant positive impact on growth of the economy and lead to a faster reduction of the debt-to-GDP ratio to sustainable levels by 2035. •  In the short term, i.e.