Angel Gurria: Greece Might Need More Time

Organization for Economic Cooperation and Development Secretary-General Angel Gurria said that Greece might need more time to pay back debts to bondholders, in a “rescheduling” that would not be classified as a default, according to Bloomberg.
“The adjustment program of a country like Greece is a very painful program, and if a rescheduling of the payments is something which is required in order to make those difficult policies work, then that is what should be done,” Gurria told Bloomberg Television.
Meanwhile, chief European economist at JPMorgan Chase David Mackie noted that Greece still needed to do a lot of hard work, in order to put its fiscal problems behind it, and to create a positive environment for growth.