MarketWatch
May 13, 2011
The European Commission, the International Monetary Fund and the German government are ready to accept soft debt restructuring for Greece due to the “dramatic worsening of Greece’s situation,” but the European Central Bank and France continue to oppose such a move, German newspaper Die Welt will report in its Saturday issue, citing unspecified sources.
“We’re not aware of any such decision,” a German government official said under the condition of anonymity. The ECB declined to comment on the article, and a spokesman for Olli Rehn, European commissioner for economic affairs, said he has no comment.
The French finance ministry wasn’t immediately available for comment. The IMF didn’t immediately respond to an emailed request for comment.
The IMF, European Commission and Berlin are now advocating an extension of the maturity of Greek state bonds, the newspaper says, following the latest forecasts for Greece’s economy.
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