Eurozone sets out proposals for staggered debt relief for Greece

EconomyProgramme Tags: Debt

The Greek government was encouraged by the public references to debt relief following Monday’s Eurogroup in Brussels, although it was made clear that no real steps should be expected before the next gathering of eurozone finance ministers on May 24 and that any interventions would be spread over time.

Eurogroup chief Jeroen Dijsselbloem stressed that the eurozone will adopt a three-stage approach to Greek debt: Short-term, medium-term and long-term. Any measures adopted will seek to put the debt back on a sustainable path over these distinct timeframes.

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