Skip to content
Subscriber Only

Lazard Sees $113 Billion Greek Debt Cut as ‘Reasonable’

Updated on

Canceling 100 billion euros ($113 billion) of Greece’s debt would enable the country to cut the load in line with targets set by the international authorities that bailed out the nation, the country’s debt adviser, Lazard Ltd.’s Matthieu Pigasse, said in a radio interview Tuesday.

A debt-to-gross-domestic-product ratio of 120 percent in 2020 is “a target that looks reasonable to me and that effectively allows bringing Greece into a sustainable pattern,” Pigasse, who leads Lazard’s sovereign advisory team, said on France Inter radio. “An effort is absolutely necessary” and negotiations are ongoing, he said, speaking in French.