Greek debt deal 'close', says EC official
A senior European Commission official says a deal to address the Greek debt crisis is relatively close.
The spokesperson for the EU Economic Affairs Commissioner Olli Rehn said that the proposal centres on writing off around half of Greece's €350bn debt.
A source close to the negotiations said that the EU has asked banks to agree a 60% write-down, but that the institutions are so far sticking to their offer of a 40% cut.
Following talks over the weekend, which failed to finalise a deal, EU leaders are to meet in Brussels again on Wednesday for discussions on the debt crisis.
