The European Commission ruled out Saturday any restructuring of Greece’s public debt, which has exploded to around 340 billion euros ($485 billion).
“Yes, we do exclude restructuring,” EU Finance Commissioner Olli Rehn said as the bloc’s finance ministers wrapped up two days of talks in a Hungarian castle dominated by a deal to bail out Portugal.
“We have a solid plan and we are working on the basis of that plan, and it is based on very careful analysis of debt sustainability.”
The issue re-emerged after German news weekly Der Spiegel said in a report to appear on Monday that eurozone finance ministers discussed such an option in a telephone conference call on April 2 with Rehn and European Central Bank chief Jean-Claude Trichet.
Seated alongside Rehn at a news conference in Godollo, a suburb to the north of Budapest, Trichet underlined: “We have a plan… and we apply the plan.”
Athens has repeatedly denied it is seeking to restructure payment volumes and dates.
(source: afp)
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