They started discussions about debt, says US official

They started discussions about debt, says US official

Athens, November 5, 2015/Independent Balkan News Agency

By Spiros Sideris

The US government continues to press the Eurozone countries to agree on restructuring the Greek debt, so that it becomes viable and return the confidence of private investors.

According to official of the US Treasury Department, who spoke to the agency Bloomberg, the discussions on debt restructuring are ongoing, but he does not like to refer more to them.

The official believes that Europeans should immediately take action to reduce the levels of Greek debt. He added that the participation of the European Bank for Reconstruction and Development will also be supportive to restore financial stability in Greece.

According to the official, the Bank could lend staff and help with technical expertise to the Greek banking system.

The US government and the International Monetary Fund would like something more than a reduction in interest rates and extension of loans. Reportedly, they basically wish remission, but it is something they will not “open” at this time.

The agency notes that many members of the eurozone have stated that a “red line” the “haircut”, but could be better accept the terms of the loans.

Note also that the US calls for debt restructuring reflects the position taken by the IMF, which has said it will not provide additional funding to Greece unless the Eurozone commits to a debt relief. Discussions on debt ahve began, supports a US official

The US government continues to press the Eurozone countries to agree on restructuring the Greek debt, so that it becomes viable and return the confidence of private investors.

According to official of the US Treasury Department, who spoke to Bloomberg, the discussions on debt restructuring are ongoing, but he does not like to refer more to them.

The official believes that Europeans should immediately take action to reduce the levels of Greek debt. He added that the participation of the European Bank for Reconstruction and Development will also be supportive to restore financial stability in Greece.

According to the official, the Bank could lend staff and help with technical expertise the Greek banking system.

The US government and the International Monetary Fund would like something more than a reduction in interest rates and extension of loans. Reportedly they wish remission, but it is something that will not put at this time.

The agency notes that many members of the eurozone have stated that a “haircut” is a “red line”, but could accept changing of the terms of the loans.

The US call for debt restructuring reflects the position taken by the IMF, which has said it will not provide additional funding to Greece unless the Eurozone commits to a debt relief.