A successful review would trigger talks with the European creditors about debt relief for Greece. Though Greece has delivered on much of its requirements for reforms, it has struggled to convince some of its creditors — notably Germany — that its efforts have gone far enough. Greece has for the past six years relied on bailout loans — totaling a colossal 300 billion euros — from eurozone partners and the International Monetary Fund to avoid bankruptcy. It would take Greece decades of economic growth to get debt down to more manageable levels around 100 percent of GDP. These could take the form of a longer repayment timetable for Greece’s loans or further reductions in the interest rates payable on those loans.

Source: Washington Post December 05, 2016 17:23 UTC