Even the states must take a step back on the Greek debt. Jean-Claude Juncker he stated this in an interview with the Austrian newspaper Der Standard. According to the number one of the Eurogroup a possible agreement, for which he is feverishly negotiating these days, devaluing the value of Greek debt held by private creditors by 50% would not be sufficient. "One should ask whether public aid is needed," Junker explained.
According to Junker's estimates, not supported in the interview by any data, the successful outcome of the negotiations in progress will not bring the Greek debt below the threshold of 120% of GDP, the figure considered sustainable by the IMF. Reaching the figure is a necessary condition for guaranteeing Athens new international aid.
