Euro zone, IMF fail to strike Greek deal

Nov 21 2012, 11:59 IST
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SummaryGreece's debt cannot be cut to 120 percent of GDP by 2020.

ready to do more for Greece in the coming years, an apparent nod to the idea of government-sector debt writedowns.

"It's essential now that we take a decision on a set of credible measures on debt sustainability and, at the same time, we need to be ready to take further decisions in the light of future developments," Rehn said.

He did not elaborate, but the idea of a haircut on official loans is off the table for now because many countries, including Germany, see it as politically and legally impossible.

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