Close
Log in
Please enter your login details

Skip to main content

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.

Copyright © 2014 euronews

More about: