The European Commission sees no reason why Greece
restructure its debt now, a spokesman for the EU executive said on Saturday, in response to a report that the International Monetary Fund (IMF) supports the move."All support measures are in place, and there is no reason now to start thinking of this possibility of restructuring Greece's debt," Commission spokesman Jens Mester said.
Earlier on Saturday, German magazine Der Spiegel said high ranking IMF officials were urging Greece to restructure its current debt pile, worth roughly one-and-a-half times its entire annual economic output.
by Charlie Dunmore
source: Reuters
