A restructuring of Greece΄s debt is “out of the question,” the head of the European Council said Tuesday, dismissing speculation that the country will force losses on bond holders as it struggles to fix its public finances.
“Let me be clear on this. It is not on the agenda and it is out of the question,” Van Rompuy said after a speech to a local Greek think tank. “It creates more problems than solutions.”
Van Rompuy said Greece had no choice but to continue with its promised overhauls, despite signs of reform fatigue.
“You are now 10 months into the program. The emphasis must be on the continued implementation of the agreed fiscal and structural reforms. It is not over yet,” he said. “This is a very broad reform agenda indeed. But there is no alternative.”
(source: Dow Jones)
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