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GreekReporter.comGreeceEU Officials Tell Reuters that Greece Will Need More Debt Restructuring

EU Officials Tell Reuters that Greece Will Need More Debt Restructuring

Three EU officials talked to the Reuters news agency about Greece’s financial future. “Greece is unlikely to be able to pay what it owes and further debt restructuring is likely to be necessary,” they told to Reuter’s Luke Baker.
Inspectors from the European Commission, the ECB and the IMF — together known as the troika — returned to Athens on Tuesday but media are reporting that Greece has not managed to raise the amount of money needed to avoid further measures imposed by troika.
“Greece is hugely off track,” one of the officials told Reuters.  “The debt-sustainability analysis will be pretty terrible,” he continued.
EU officials commented that “nothing has been done in Greece for the past three or four months” and harshly criticized the delays caused by the two elections. All three of them agreed that the situation is going from bad to worse.
Reuters concluded that they only way to keep Greece in the eurozone is for the ECB and member states to write off some part of the Greek debt. “This has not been explored yet politically because no one wants to launch that discussion,” the first official said.

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