The head of the European Financial Stability Facility (EFSF), Klaus Regling, said that there is no need to increase the funding of the EFSF or to restructure the debt of Greece.
“The view of the International Monetary Fund, the European Commission and the European Central Bank is that Greece does not need a restructuring of debt, that the markets overestimate that risk,” Regling said in a radio interview on Thursday that.
“Markets are assuming that Greece needs a debt restructuring,” the EFSF head observed.
“But that is not backed by the actual developments, because the [economic reform] program in Greece is going well.”
“We expect that with the implementation of these reforms the credit worthiness of Greece will rise again,” he told Deutschlandfunk.
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