BERLIN (MNI) – Greek Prime Minister George Papandreou on Tuesday
again vowed that Greece is not pondering a restructuring or a haircut of
its sovereign debt.
The European aid program for Greece “is based on the premise that
we can be credible in the markets and credible to our creditors and
therefore not have a restructuring or a haircut,” Papandreou said at a
joint press conference with German Chancellor Angela Merkel after a
meeting of the two here.
“Of course there are different ideas about how Greece can manage
its debt in a way which does not, however, include haircuts,” the Prime
Minister added.
“We are on track to make the necessary reforms,” Papandreou said.
“We have delivered, we are delivering and we will continue to deliver.”
Regarding the joint European and IMF E110 billion bailout emergency
loan to Greece, the Prime Minister pledged that “we have taken the loan
and we’re paying it back… when the program is over.”
Merkel acknowledged that there are currently discussions underway
that the loan might be stretched beyond 2013. “However, nothing has been
decided yet, but this is one point of an overall package which is on the
table,” she said.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
[TOPICS: MT$$$$,M$G$$$,M$X$$$,MGX$$$,MFX$$$,M$$CR$]
