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Altafaj: Restructuring of Greek debt scenarios "nonsense"

21. January 2011. | 19:46

Source: ANA-MPA

Speaking to reporters, the EU spokesman commented on German press reports about a restructuring of the Greek debt, said these reports were “nonsense” and welcomed the dismissal of the reports by German authorities.

Recent scenarios over a restructuring of Greek debt were “nonsense”, Amadeu Altafaj, the spokesman for EU Commissioner for Economic Affaris Olli Rehn, said on Thursday.

Speaking to reporters, the EU spokesman commented on German press reports about a restructuring of the Greek debt, said these reports were “nonsense” and welcomed the dismissal of the reports by German authorities.

Altafaj expressed the certainty of the European Commission that Greece would be able to make it on its own after 2013 and noted that Eurogroup decisions, a fiscal consolidation and structural reforms program implemented by the Greek government and an anticipated decision to extend the repayment period for the loans offered to Greece by the EU and the IMF, would allow the country to service its borrowing needs after 2013.

The Greek government on Thursday reiterated its position that there was no discussion over a restructuring of the Greek debt.

Government spokesman George Petalotis, speaking to reporters, categorically rejected speculation that the country was discussing a restructuring of its debt and noted that the government was strictly adhering to its goals.

IMF supports loan repayment extension, says not to debt restructuring

The International Monetary Fund (IMF) is in favor of a decision to extending the repayment period of a loan to Greece, but opposes a restructuring of the Greek debt, David Halley, an adviser at IMF’s external relations department said on Thursday.

Speaking to reporters, the IMF official said:

“We support a longer period of repayment for the Greek program which could have been achieved through the transformation of our current loan to an Extended Fund Facility,” Halley said, adding that “this is something we could recommend to our board. Of course, for this we have to work together with our European partners”.

Commenting on speculation over a restructuring of the Greek debt, he said "the Greek government has repeatedly said it did not intend to seek a restructuring of its debt something that it is not in the interests of the country and we agree with this”.

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