EU Commission on Greek debt talks

The European Commission on Friday reiterated its position that any plan to restructuring the Greek debt should include a voluntary consensus by private creditors and on the precondition that it will not become a credit event.
Speaking to reporters, here, Amadeu Altafaj, a spokesman for EU Commissioner for Economic and Monetary Affairs, Olli Rehn, said that European officials were currently discussing something similar with the “Vienna Initiative”.
Commenting on a Eurogroup finance ministers’ teleconference, held on Wednesday, Altafaj said ministers exchanged views over the Greek debt, based on the conclusions of a fourth assessment by the troika over implementation of an economic adjustment programe by Greece.
The EU spokesman noted that the European Commission was examining ways under which private holders of Greek bonds could accept, voluntarily, to hold these assets. He added, however, that it was a “technically difficult” project, as it could be characterized as a credit event by markets and “that’s what we want to avoid”. Altafaj said at this particular period, “bridges were build between interested parties and the Eurozone member-states”.

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