Eurozone ready to link Greek debt with GDP, if reforms implemented

Limit could be 15% of GDP

Reuters news agency quotes a European Commission official as saying that if Athens implements the necessary reforms within the next two months, then the Eurozone would be willing to make some concessions on the Greek debt. According to Reuters, the Eurozone government would discuss servicing up to 15% of the Greek debt to GDP. This will allow the cost of serving the huge debt to be linked to the country’s growth rate. In other words, if the Greek economy remains in recession the debt burden will be reduced.