BRUSSELS Feb 20 Euro zone finance
ministers have found ways to cut Greece's debt to between 123
and 124 percent of gross domestic product by 2020 but are
striving to reduce the burden to close to a 120 percent target,
three senior euro zone officials told Reuters.
"We've reached a figure of around 123-124 pct of Greek GDP,
but there is a push to go further," said one source briefed on
the Monday night talks.
Asked if 120 percent remained the objective, the source
said: "yes". Another source present at the talks said the goal
was to get "very close to 120 percent".
Senior representatives of the euro zone and Greece were also
meeting with the chief negotiators for private creditors, the
International Institute of Finance, to find ways to fund further
debt relief for Greece, the sources also said.
Two sources said a sticking point for some euro zone members
was a proposal for the European Central Bank to relinquish
profits it has made on its Greek bond holdings and allow its
national shareholders to return them to Athens.