ECB's Wellink-Greek restructuring in no one's interest

TORONTO, April 18 | Mon Apr 18, 2011 12:14pm EDT

TORONTO, April 18 (Reuters) - A Greek debt restructuring would not be in anyone's interest and Portugal should mark the end of the worst of the euro zone's debt crisis, European Central Bank Governing Council member Nout Wellink said on Monday.

"The restructuring is not in the interest of the euro zone, not in the interest of Greece, not the interest of the other countries," Wellink told Reuters on the sidelines of a meeting in Toronto.

"What we should do is we should encourage the Greeks to implement ... a new program. Part of the program is the selling of government assets to an amount of 50 billion."

Greece has no plans to restructure its debt and the International Monetary Fund is not considering a plan to do so, the country's finance minister, George Papaconstantinou, said on Saturday, denying a media report. [ID:nLDE73F0DO] (Reporting by Claire Sibonney; writing by Jeffrey Hodgson, editing by Janet Guttsman)

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