The first such concession on the part of official representatives of the ECB came from the chief Nout Wellink of the Central Bank of Denmark, said yesterday that he was willing to consider the idea of extending the maturity of Greek debt. However, he was adamant that Greece should fully pay its debts. In recent days, some politicians in Greece and other EU countries started to play up the idea of voluntary restructuring, where the lender offers to extend payments on existing debt obligations of the Greek. Although this idea is interesting, it does not solve the fundamental problem that the Greek foreign debt may simply be too great for this economy.
Tuesday, May 3, 2011
Wellink is willing to consider the extension of the maturity of the Greek market
The first such concession on the part of official representatives of the ECB came from the chief Nout Wellink of the Central Bank of Denmark, said yesterday that he was willing to consider the idea of extending the maturity of Greek debt. However, he was adamant that Greece should fully pay its debts. In recent days, some politicians in Greece and other EU countries started to play up the idea of voluntary restructuring, where the lender offers to extend payments on existing debt obligations of the Greek. Although this idea is interesting, it does not solve the fundamental problem that the Greek foreign debt may simply be too great for this economy.
