The head of the eurozone’s finance ministers says the Greek creditors may have to settle for a cut of more than 60 per cent in what Athens owes them.
Jean-Claude Juncker, who is also prime minister of Luxembourg, says the group is “talking about more” than a 60 per cent haircut for Greece.
State broadcaster ORF cited Juncker on its website Tuesday, in comments made late Monday evening to ORF. He was asked whether debt forgiveness of 50 to 60 per cent was being considered for Greece.
He says that — unlike financial markets — EU politicians were slow to react to the debt crisis, adding there is no “historical experience” for the present situation.
(source: AP)
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