France, banks agree Greece debt proposal: source

PARIS (Reuters) - The French government and banks have agreed on a Greek debt rollover plan involving longer maturities, a banking source said on Sunday, confirming a report in Le Figaro newspaper.

Under the plan, creditors would reinvest 70 percent of the proceeds reimbursed when Greek debt falls due, with 50 percent going into new Greek debt with a maturity of 30 years instead of five, the newspaper said on its Web site.

The other 20 percent would be reinvested in a "zero coupon" fund focused on very high quality stocks that would grow, providing a degree of security in place of state guarantees, Le Figaro said.

"It's a solution from the French Banking Federation," the source said, confirming that the report in Le Figaro was "close to reality."

(Reporting by James Regan; Editing by Daniel Flynn)