Greece to avoid restructuring by return to growth: Finance Minister

10:25, April 14, 2011      

Email | Print | Subscribe | Comments | Forum 

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
  Weekly review  


  • Do you have anything to say?


Special Coverage
  • BRICS Leaders' Meeting 2011
  • Focus On China
Major headlines
Editor's Pick
  • China, Vietnam vow to improve bilateral ties
  • 2011 HK Electronics Fair attractes 2,450 enterprises
  • Senior CPC official urges closer parliamentary exchanges with Romania
  • NATO, allies hold 1st contact group meeting on Libya
  • Real Madrid set up clash with Barca in Champions League semis
  • Brazilian president arrives in Sanya for BRICS Leaders Meeting
Most Popular
Hot Forum Dicussion