The Straits Times
Published on Nov 26, 2012

Euro zone 'very close' to Greek debt deal: France


PARIS (AFP) - The euro zone is very close to an agreement on Greek debt, French Finance Minister Pierre Moscovici said on Sunday on the eve of key talks between the currency bloc's finance ministers.

"I think that in effect we are very close to a solution," he told BFM Television, adding: "I don't know if there will be an agreement tomorrow, I know it is possible and I want one." Euro zone ministers meet on Monday for their third effort to agree on unlocking a 31.2-billion-euro (S$49.5-billion) slice of aid for Greece as it teeters on the verge of bankruptcy.

Moscovici said failing to reach a deal would be "irresponsible" at the talks "given the efforts everyone has made".

He provided few details about the outlines of a possible deal, but said it could involve a combination of decreases in interest earned by lenders and profits made by central banks on Greek debt.