A European diplomat says current plans to help Greece with its debt load would still leave the country with debt of 129 percent of economic output in 2020.

That’s far above the 120 percent level that eurozone leaders in October said was the maximum that could be considered sustainable.

The diplomat says international debt inspectors estimate in a new report that Greece’s promised austerity efforts, a euro100 billion ($130 billion) debt relief from private investors and a euro130 billion ($169 billion) bailout fail to reduce the country’s debt sufficiently.

He says several options were being discussed to bring the debt closer to the 2020 target, including help from the European Central Bank, lower interest rates on bailout loans, and helping Greece with an upcoming euro5.5 billion interest payment to bondholders.

The diplomat was speaking on condition of anonymity because the figures are confidential.

Associated Press