Galery

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There, however, remains the external debt issue that is constantly increasing in the period of reforms and recession. Chris Price also said the euro zone was expected to continue to exist in the same form and with the same members as now. He added that this did not mean that one or two members of the zone could not restructure their external debts referring to Greece and Ireland. Price stressed that they rather could do this.

Scenarios for the restructuring or at least rescheduling the Greek external debt became more frequent lately and many financial analysts recommend this to be done as soon as possible. However, the government strongly denies such a course but does not exclude the possibility to resort to rescheduling the repayments of the financial support of 110 billion euros.

It became clear after the last meeting of Ecofin that the loan under the Memorandum of economic support will be rescheduled but it will become clear under what conditions not earlier than March 2011. Until then the parliamentary spokesman George Pedalotis will continue to hold the current course: "There is no rescheduling of debt payment. The government does not discuss anything like that."