A restructuring of its debt would be a catastrophe for Greek people and Europe, the country’s Premier said in an interview Monday with Le Figaro newspaper, AFP reports.
“This scenario is out of the question. It would be a catastrophe for Greek citizens given the sacrifices made” to restore the country΄s public finances, Papandreou said, noting it would also be “a catastrophe for confidence in Europe and the euro”.
“We are continuing on the same track. We have already disproved all those who said that Greece would not be able to put its accounts in order. The effort continues.”
Following a meeting with French President Nicolas Sarkozy in Paris, he told the Greek media that France was in favour of giving Greece more time to pay back the 110-billion-euro loan granted Athens in May by the European Union and International Monetary Fund, according to his office.
“France is in favour of extending the repayment of the loan, which will take a burden off Greece and create market confidence,” he said after his meeting with Sarkozy.
“When you look at how the loan evolves, there is a big amount for some years, so if these amounts are spread over a longer period, Greece would reimburse them more easily,” he added.
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