BRUSSELS, Belgium - The chief of the eurozone says Greece's debt will decline to 117 per cent of GDP by 2020, better than the 120 per cent that had been expected.
The prediction was announced late Monday in Brussels by Jean-Claude Juncker, prime minister of Luxembourg, who also chairs the meetings of eurozone finance ministers. It came at the end of a meeting of the ministers in Brussels.
Greece implemented the biggest debt writedown in history on Monday, swapping the bulk of its privately held bonds with new ones worth less than half their original value.
