Germany Floats Greek Restructuring as Papandreou Seeks Cuts
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German officials are putting Greek debt restructuring on the table over declarations by leaders in Athens and policy makers elsewhere in Europe that Greece will make good on its obligations.
German Deputy Foreign Minister Werner Hoyer said yesterday a Greek restructuring “would not be a disaster.” The previous day, Finance Minister Wolfgang Schaeuble was quoted by Die Welt newspaper as saying “further measures may have to be taken” if Greece flunks a June audit.