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Euro Group reaches compromise on 2nd aid prog for Greece

February 21, 2012, 7:57 UTC+3
“The ministers are ending the technical work on the final document,” he stressed
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BRUSSELS, February 21 (Itar-Tass) — The Euro Group has reached a compromise on the activation of the second program of assistance to Greece, a diplomatic source reported.

“The ministers are ending the technical work on the final document,” he stressed.

The source noted that the agreement provides for a “reduction in Greece’s state debt to 120.5 percent of the country’s GDP by 2020.” At the moment the debt exceeds 160 percent of Greece’s GDP and is estimated at 230 billion euros.

 

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