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Gov't flatly dismisses speculation of debt restructuring

Δημοσίευση 12 Ιανουαρίου 2011, 12:13 / Ανανεώθηκε 27 Ιουνίου 2013, 14:55
Gov't flatly dismisses speculation  of debt restructuring
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The government on Tuesday categorically dismissed speculation of a restructuring of the Greek debt and reiterated its determination to strictly adhere to targets of structural reforms and fiscal consolidation.

The government on Tuesday categorically dismissed speculation of a restructuring of the Greek debt and reiterated its determination to strictly adhere to targets of structural reforms and fiscal consolidation.

Government spokesman Giorgos Petalotis, speaking to reporters, said:

“It is clear that the situation is not as it should be, but we are clearly dismissing debt restructuring and sticking to our goals, which have already begun to bear fruit”.

Commenting on a Financial Times report regarding a debt restructuring by the country, Petalotis said “we are used to foreign press reports being unfair to the country..."

He added that a six-month T-bill auction was successful and stressed that speculation of huge interest rates - which could surpass 5.0 pct or 6.0 pct - again failed to materialise.

Petalotis said higher participation by foreign investors in the auction was evidence of increased confidence to the country, which was gradually regaining its international credibility.

The government spokesman said a discussion over extending the period of repaying the EU/IMF loans was expected to be held in January or February and noted that the euro-bond was a very significant decision, very complex and several variables and underlined that this was a case promoted by the Greek Prime Minister and has taken European-wide dimensions.