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Greece having optimistic expectations from Euro zone deal

Greece having optimistic expectations from Euro zone deal

ATHENS: Despite the failure to reach an agreement, Greek can still be in a debt deal with Eurozone as Greece’s finance minister said that the talks in Brussels had produced “very good discussions”.

The head of Euro zone finance ministers, Jeroen Dijsselbloem, said the talks had been intense and constructive.

Greece wants to overhaul 30% of its bailout obligations, replacing them with a 10-point plan of reforms.

EU ministers have warned however that Greece must abide by existing terms.

The EU-IMF bailout for Greece expires on 28 February.

Mr Dijsselbloem said there had been talk of extending the arrangement, but there was “not enough progress yet at this point to come to joint conclusions”.

Greece’s government, led by the radical left-wing Syriza party, says the conditions of the €240bn (£182bn; $272bn) bailout has impoverished Greece.

Greece’s debt currently stands at more than €320bn (£237bn) – about 174% of its economic output (GDP).