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Wednesday, July 15, 2015

EU publishes Greece assessment, sees debt reprofiling

The European Commission published the assessment it made last week of Greece's request for a bailout, spelling out a different view of Athens' debt sustainability from that taken by the IMF but also signalling a possibility of debt relief. A day after the IMF published its latest assessment, saying that Greece would require extensive debt relief from its mostly euro zone sovereign creditors, the EU executive's note, published on Wednesday, said the Greek debt-to-GDP ratio would be 165 percent in 2020 and 150 percent in 2022 if Greece took action to cut it, but could reach 187 percent and 176 percent. The IMF, which contributed to the Commission assessment, said the debt-to-GDP ratio in 2022 was projected at 170 percent and called for much greater debt relief than has been proposed.


READ THE ORIGINAL POST AT uk.news.yahoo.com