January 7, 2011
Greece's prime minister sought to allay investor concerns over the country's staggering debt burden Thursday, saying the country isn't in talks to restructure government debt held by private bondholders and will return to the bond markets this year if conditions allow.
Speaking in an interview with Dow Jones Newswires, Prime Minister George Papandreou said Greece's program of tough structural reforms and harsh fiscal austerity -- as demanded by its international lenders -- would ensure that Athens could repay its private creditors.
"We have no such [restructuring] talks going on. If we look at growth, at the fiscal consolidation, the reforms we're making and the fact we have the strong backing of the [European Financial Stability Facility], we believe will have no problem in paying back the debt," Mr. Papandreou said.
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