International Monetary Fund chief Dominique Strauss-Kahn on Saturday
dismissed rumors that Greece would restructure its debt, voicing confidence in the IMF-EU rescue plan.Strauss-Kahn, responding to a reporter's query about the possibility of a Greek debt restructuring, said there was no plan for it in the massive bailout program.
"We have built the Greek program with the government following the assumption of the government that they really want not to restructure their debt," he said at a news conference at IMF headquarters in Washington.
"That's the hypothesis around which the European program and our support for this program has been decided. Nothing has changed. Period."
"The market can talk for hours..." about all kinds of things, he added.
"So far we are working with the program as it has been established."
"For this program to work, we need two things. We need the country to do exactly what is in the program, even if it is difficult," he said.
"And we need the other partners, in this case namely the Europeans, also to do their homework," he said, pointing to the European Union's efforts to provide financing.
"That's it."
Greece last year pledged to put its economy in order after accepting a 110-billion-euro ($147.8 billion) debt rescue from the EU and the IMF to escape a looming bankruptcy.
Greek sovereign debt plummeted on bond markets Thursday and Friday after a German minister's comments fueled rumors that the country will have to restructure its debt as it faces rising borrowing costs and needs.
source: AFP
