I’m having a little trouble understanding this current Greek Debt deals. From what I understand Sustainable debt levels (when quantitative easing is not allowed) are deemed to be 120% of GDP for a country. Greece’s current debt to GDP is 150% GDP and they plan to reach sustainable levels of 120% by 2020. To do this I understand there will be a 50% debt forgiveness but 50% of 150 GDP is 75% GDP. So how does this 50% debt forgiveness equate to achieving a debt to GDP levels of 120%. Is it because they are delaying the debt forgiveness or am I making a math mistake?