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No agreement on Greek debt


Belgium

No agreement on Greek debt

Eurozone Finance Ministers have failed to reach an agreement on how to make Greek debt sustainable after 12 hours of negotiations in Brussels.

A new round of discussions will take place on Monday November 26th, which means Athens will have to wait to receive their latest bailout payments.

Greece’s debt, currently at 170% of GDP, cannot be cut to 120% by 2020, the level deemed sustainable by the IMF, unless euro zone member states write off a portion of their loans to Greece. It states that to avoid those losses, the country would need two more years, but the IMF refuses it more time.

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