The Greek finance minister Euclid Tsakalotos said on Monday that Greece aims to achieve a deal on debt relief in February with euro zone creditors to spur economic recovery and remove financial uncertainty.
To the America-Hellenic Chamber of Commerce, Tsakalotos said;
“If we don’t make the critical decision in let’s say February 2016, and we push the critical decision back to next summer or even 2017, then all the results will be delayed,”
Once the first review of Greece’s third bailout programme has been deemed successful, Euro zone leaders have agreed to consider additional debt relief.
The International Monetary Fund has said that Greece’s sovereign debt, which is projected to reach 187.8% of Greece’s 2016 GDP, is unsustainable and will need debt relief far beyond anything the euro zone has ever been willing to contemplate.
