Greece rules out possibility of default

Report of comments by Greece's Finance Minister George Papaconstantinou to the FT, 15 September 2010. He strongly rejected the idea that Athens will be forced to restructure its debts, saying that a default would break the eurozone.

The comments made in London with IMF, ECB and European Commission officials were part of an attempt to build confidence among investors that Athens is on course with vital economic and labour reforms.

IMF: Country Report No. 10/286: Greece: First Review Under the Stand-By Arrangement http://www.imf.org/external/pubs/cat/longres.cfm?sk=24208.0

ESO: Background information: Papandreou offers some tax relief to struggling companies / Greece moves to reassure investors on reform http://www.europeansources.info/record/papandreou-offers-some-tax-relief-to-struggling-companies-greece-moves-to-reassure-investors-on-reform/

ESO: Background information: The Greek debt crisis of 2010 http://www.europeansources.info/record/the-greek-debt-crisis-key-sources/

---