Greece to avoid restructuring by return to growth: Finance Minister

10:25, April 14, 2011      

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Greece will not be obliged to restructure its debt as it continues structural reforms intended to restore economic growth in the financially troubled country, Finance Minister George Papaconstantinou said Wednesday.

"The government does not agree with the debt restructure idea. We can create new job positions and focus on investments instead. We do not change course," Papaconstantinou said.

The finance minister said the latest figures over the past four months show that Greek exports have increased and that the recovery of the ailing Greek economy has already begun.

Papaconstantinou estimates that Greece will start returning to growth late this year.

Greece narrowly avoided bankruptcy last spring, under the heavy burden of an over a 300 billion euro (434.43 billion U.S. dollar) debt, aided by European Union and International Monetary Fund.

Source: Xinhua
 
 
     
 
 
 
     
 
 
 
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