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Eurozone & IMF seek ways to reach Greece debt deal

11-27-2012 10:33 BJT

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Eurozone finance ministers and the International Monetary Fund will seek to unleash a second bailout package for Greece on Monday. But before that, they need to reach a deal first to write-off some of the official loans to Athens in order to meet Greece's debt reduction target.

Without a common view on how to cut the debt, euro zone ministers and the IMF do NOT want to resume payments of loan tranches to Athens, even though Greece has met all the conditions.

Analysts say, they don’t see how Greece can guarantee whether its need for emergency financing will ever end. Euro zone ministers have been talking over the past two weeks to decide how Greek debt could be cut to a more sustainable 120 percent in 8-10 years. The debt pile is seen as high as 190 percent of GDP next year.

Editor:Wang Xiaomei |Source:

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