Monday, May 16, 2011

Dutch minister: Greek restructuring was discussed

The Dutch finance minister says eurozone ministers have discussed the restructuring of Greece's massive debt, but are reluctant to do so in public.


Jan Kees de Jager said Monday "of course we discuss all kinds of topics, including restructuring. But in public, we are very reluctant about discussing and debating restructuring."
European officials have so far ruled out that a restructuring to Greece's debt — the delay or reduction of bond repayments — was even being discussed. De Jager didn't specify whether he favored such a move.
De Jager said that "at the moment, it seems that Greece is not on the right track" when it comes to the implementation of its bailout program, and it "should be first brought back on the right track" before deciding on any new support measures.








AP