More from Jeroen Dijsselbloem, President of the Eurogroup

via Reuters:

  • Euro-zone creditors of Greece agree debt relief should be via capping debt servicing costs
  • Euro-zone governments broadly agree Greek debt servicing costs should be capped at 15 pct of GDP annually
  • Discussions to start this year on whether Greek debt relief should be upfront or paced over time with conditions

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OK, so that's a little more meat from the Dij ... "debt relief should be via capping debt servicing costs "

That'll be a EUR positive (until the **** hits the fan when debt can't even be serviced this way ... pardon my pessimism)

More detail (again via Reuters):

  • Euro-zone governments, Greece's biggest creditors, agree that debt relief for Athens should be accomplished by capping its debt servicing costs at 15 percent of gross domestic annually, the chairman of the euro zone finance ministers, Jeroen Dijsselbloem, said
  • But discussions on whether the relief should be granted up front, over time as some conditions are met, or as a mix of the two, would only start later this year, after Greece successfully passes the first assessment by the creditors of its bailout reforms, he said

I'll get a link for more ASAP
... UPDATED .... here it is