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Greece needs to restructure debt: Slovakia

30 May 2011, 22:41 CET
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(LJUBLJANA) - Greece needs to restructure its debt, the question is how it should be done, Slovak Prime Minister Iveta Radicova said Monday.

"A restructuring is necessary, but it'll have to be decided how to do it," Radicova told a joint news conference with her Slovenian counterpart Borut Pahor in Ljubljana.

Radicova said Greece was likely to request more financial aid since much of the 110-billion-euro ($157-billion) bailout already offered by the European Union and International Monetary Fund is swallowed up by Greece's debt repayment.

"No amount of aid will be sufficient unless the debt is restructured," Radicova said.

Slovenian prime minister Pahor said his country's parliament -- which agreed to Slovenia taking part in the EU bailout package last year -- would similarly have to vote on any participation in the restructuring of Greece's debt.


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