Reuters - Greece has once again said Monday that it had no intention to restructure its debt, the governor of the central bank holding such an event catastrophic.
Under pressure from increasing pressure from markets, Athens has denied reports published by the daily Eleftherotypia, which reported Monday that Greece has requested earlier this month the European Union (EU) and Fund
(IMF) to restructure its debt.
German government sources believe however that Greece will not pass the summer without a restructuring of its debt.
These sources say however that this does not imply that Berlin pushes for restructuring.This means that the German government considers a restructuring almost inevitable, they continue.
These remarks have pushed the euro to its lowest level since April 7.
The Governor of the Central Bank of Greece George Provopoulos estimates in a report to shareholders that the restructuring would be detrimental to banks and pension funds.
"The Bank of Greece said clearly since last October that such an option is neither necessary nor desirable," he writes."That would have catastrophic consequences."
Echoing the governor of the Central Bank of Greece, the French Minister of Economy Christine Lagarde said Monday that the same debt restructuring Greek, or Irish or Portuguese would be "catastrophic."
The European Commission for its part said there was no ongoing discussion of restructuring.
The IMF, European Central Bank (ECB) and European Commission review in June if Greece qualifies to receive the next tranche of its bailout package of 110 billion euros.
Consequence of these speculations, the spread of the Greek debt was close to a record, reaching 1,096 basis points over the 10 years.
