NEWS

Commission says Greece’s debt pile may be addressed in last-ditch deal

commission-says-greece-amp-8217-s-debt-pile-may-be-addressed-in-last-ditch-deal

The European Commission has indicated that an assessment of overall Greece's debt situation and its financing needs could be part of a last-minute bailout deal.

Late Monday, Commission President Jean-Claude Juncker made a last-ditch effort to help Greece get a bailout deal, provided Greek Prime Minister Alexis Tsipras campaigns for staying in the euro.

Beyond accepting proposals made by international creditors last weekend, Commission spokesman Margaritis Schinas said there would be unspecified discussions on Athens's massive debt load, which stood at 317 billion euros ($355 billion) at the end of 2014, or 177 percent of the country's annual GDP.

Juncker had expected an answer on that before midnight Monday, but round noon Tuesday, he was still waiting.

[AP]