The German government is considering a plan that would allow the Greek government to retire some of its debt early, using subsidized credits from the European Financial Stabilization Facility, according to the weekly newspaper Die Zeit.
The German government could approve such an offer in return for new commitments by Greece to a “stability-oriented policy”, said the newspaper on Wednesday.
German Finance Ministry sources say that officials are working on contingency plans to handle the fallout if Greece defaults or needs to restructure its debt, according to Reuters.
Greek Deputy Minister of Finance, Filippos Sachinidis commented that Greek government’s position remains unchanged and there no such discussions going on, says the news agency.
Additionally, a German finance ministry spokesman stated that Germany is not preparing a restructuring of Greek debt, adding that “the report in Die Zeit used the word “Umschuldung” which could refer to either a restructuring or a rescheduling.”
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