Greece Should Extend Bailout Loans, Premier’s Adviser Says

Greece doesn’t need to restructure its debt for now and should only consider an extension of its international loans, said Herakles Polemarchakis, an economic adviser to Greek Prime Minister George Papandreou.

“The debt has to be addressed,” Polemarchakis said in an interview at an event late yesterday at the London School of Economics. “I think that the rescheduling -- or re-profiling as it is called sometimes -- of the 100 billion euros given by the International Monetary Fund and the European Union, that’s something that could easily be done.”