No plans made by Greece for debt restructuring

Greece has said that till now it has made no plans for a debt restructuring while the German officials has clear made discussion regarding the expected happenings in the near future. Investors have charged a record amount so as to cover the country’s obligations.

In an interview which was held on 16 April in Washington, Greek Finance Minister George Papaconstantinou has said that they were discussing over restructuring which is not an issue. The work and labour of doing so would be greater than repaying lenders.

Moreover Greece has been getting the support from International Monetary Fund Managing Director Dominique Strauss-Kahn and French Finance Minister Christine Lagarde. Earlier German Finance Minister Wolfgang Schaeuble has said that there is a need of further measures if Greece fails June stocktaking.

German Deputy Foreign Minister Werner Hoyer has considered that restructuring would not be a disaster in near future. He has said this to Bloomberg News last week.

CMA prices for credit-default swaps have stated that the cost of insuring Greek government debt has risen to a record 1,155 basis points on April 15.