And we still haven’t received any details –
It was not immediately clear how the debt would be reduced from its currently forecast level of 144 percent in 2020 to the target of 124 percent, but it is expected to involve a series of measures including an extension of the maturity and lowering of interest rate on loans to Greece, a debt buyback and a return to Athens of profits made by the ECB on Greek debt it holds.
Not immediately clear … that’s right – be interesting to see the growth estimates, any haircuts (in whatever form) etc. Probably unrealistic and unachievable.
No wonder that:
talks on the details of the debt cutting measures with the IMF were still ongoing.
Quotes from Reuters articles already referred to:
Euro zone, IMF agree to cut Greek debt to 124 percent/GDP in 2020
