BRUSSELS (MNI) – Eurogroup finance ministers have completed
negotiations on a second Greek bailout and private-sector creditors have
agreed to take a haircut on their Greek bond holdings of about 53%, an
EU source said.

The source said the increase in the haircut from the 50% initially
agreed will reduce Greece’s debt to 120% or 121% of GDP by 2020.

A final statement on the bailout is in the process of being
prepared.

–Brussels newsroom; jduffy@marketnews.com

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