Euro­pean in­sti­tu­tions see coun­try’s debt on un­sus­tain­able path

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take a selfie un­der two Greek flags at Mona­s­ti­raki Square in Athens yesterday

as Euro­pean in­sti­tu­tions voiced ‘se­ri­ous con­cerns’

about Greece’s abil­ity to re­pay its debt. Greek debt will peak at 201 per­cent of gross do­mes­tic prod­uct next year, be­fore drop­ping to 160 per­cent in 2022, ac­cord­ing to the base­line sce­nario

of Euro­pean in­sti­tu­tions in a doc­u­ment ob­tained

by Bloomberg News. While the Euro­pean es­ti­mates

‘point to se­ri­ous con­cerns re­gard­ing the sus­tain­abil­ity of Greece’s public

debt,’ the doc­u­ment said that prob­lem can be solved with­out

re­sort­ing to a nom­i­nal hair­cut.

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