WSJ: ESM has ready proposal to cut Greek debt by 20% through 2060

Wednesday, 30 November 2016 20:03
UPD:20:11
REUTERS/KAI PFAFFENBACH

"The cumulative impact of these measures in 2060 would cut the ratio of debt to gross domestic product by 21.8 percentage points," WSJ reports.

 

The WSJ on Wednesday reported that the European Stability Mechanism (ESM) has already prepared a written proposal eying a reduction in Greece's debt load by 20 percent through far-off 2060.

The media group's online edition quoted "confidential proposals" and said its reporters have seen the six-page document, dated Nov. 25. The proposal reportedly outlines measures aimed to reduce the Greek debt, citing many of the prospects that have already seen the light of day: extending maturities and fixing interest on certain types of loans.

"The cumulative impact of these measures in 2060 would cut the ratio of debt to gross domestic product by 21.8 percentage points," WSJ reports.

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