Friday, August 5, 2011

Greek Woes Spur Tough Options

Friday, August 5, 2011

A senior International Monetary Fund official said Thursday that debt restructuring would provide no miracle cure for Greece's debt crisis, as a delegation of European and IMF officials continued to pore over the Greek government's finances in Athens.

The delegation is in the Greek capital to examine whether the country's tough economic program is still on track and whether its financing plan is sustainable. Their agreement is needed before they release another slice of funds next month from a €110 billion ($157.8 billion) rescue package agreed upon a year ago.

But public- and private-sector analysts agree that the €110 billion ...

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