Greece asked EU/IMF at Ecofin to restructure debt-paper

Reuters
April 18, 2011

Greece told the IMF and the European Union earlier this month that it wants to restructure its debt and discussions on the issue are expected to start in June, Greek daily Eleftherotypia said on Monday.

Media reports that the overborrowed country is seeking a debt restructuring have been dismissed by Greece's finance minister and top EU and IMF officials.

"The government's request was conveyed by Finance Minister George Papaconstantinou at the informal Ecofin meeting of finance ministers in Hungary earlier in April," the paper said, adding that all reports on the issue have been dismissed by officials because such moves are never pre-announced.

The paper said U.S. Treasury Secretary Timothy Geithner is also in favour of stretching out repayments of Greece's debt.

"You have to do it, he told Papaconstantinou," the paper said.

Greek finance ministry officials were not immediately available for comment.

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