CCTV.com - CNTV English - CCTV News

EU says draft Greek debt deal "practically finalized"

02-10-2012 10:17 BJT

BRUSSELS, Feb. 10 (Xinhua) -- The draft agreement on restructuring the Greek debt, also known as private sector involvement (PSI), has been "practically" finalized, the European Union (EU) Economic Affairs Commissioner Olli Rehn said late Thursday.

"The draft agreement on private sector involvement to decrease the Greek debt burden is practically finalized, even if it will be formally approved as part of the overall package," Rehn said at a press conference after a meeting of eurozone finance ministers.

"At least the European Commission is satisfied with the outcome. It will help substantially to reduce the Greek debt burden towards 120 percent of GDP by 2020," added Rehn, who expected the deal to be formally approved the next week.

The PSI deal is part of the 130 billion-euro (about 172 billion U.S. dollars) bailout package, offered by the "troika," namely, the International Monetary Fund, the European Commission and the European Central Bank, to prevent Greece from plunging into default on March 20 when 14.5 billion euro of bonds come due.

Editor:Zhang Rui |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program