OECD: EU deal will only slightly reduce Greek debt

By REUTERS
August 2, 2011 12:19

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

ATHENS - The European Union's rescue deal for Greece will only slightly reduce the country's debt and it will take a generation to cut it down to more sustainable levels, the OECD said on Tuesday.

"Initial analysis suggests that the (EU) package would decrease the debt burden only slightly," the OECD said in a report on Greece, commenting on the rescue deal agreed by the EU last month, based on new and cheaper loans and bond swaps.

"The additional official financial support agreed and the maturity extensions, both public and private, provide the time needed for Greece to continue to implement fundamental fiscal and structural reforms, and for those reforms to bear fruit," the report said.

Related Content

Breaking news
August 20, 2018
King of Morocco appoints new minister for economy and finance

By REUTERS