EU's Oettinger: Official Greek Debt Restructuring Unavoidable - Bild
November 17 2012 - 6:18AM
Dow Jones News
A Greek debt restructuring among the country's official
creditors is unavoidable, a European Union commissioner said
Saturday.
"At the end of the day we will not be able to avoid a debt
restructuring of the public creditors for Greece," Guenther
Oettinger, the European commissioner for energy, told German daily
Bild Zeitung on Saturday.
Greece's official lenders--the EU and the International Monetary
Fund--have debated publicly over how to pare the country's growing
debt pile. Greece has passed a new round of spending cuts, but its
deeper-than-expected recession means that without relief the
country will need European financing two more years than
planned.
The German government has rejected the idea of a public debt
restructuring.
Newspaper website: http://www.bild.de
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