BERLIN Oct 15 German Chancellor Angela Merkel's
spokesman ruled out on Monday a further debt restructuring, or
'haircut', for Greece and said Athens must press on with tough
"A new haircut is out of the question for the German
government," spokesman Steffen Seibert told a news conference.
Leading German economic institutes said last week that
Greece could not be saved without further debt restructuring.
The International Monetary Fund has also said official lenders
such as Germany should take a 'haircut' along the lines of that
accepted by private bondholders earlier this year.
Seibert reiterated Germany's wish to keep Greece in the euro
zone but said Athens must persevere with painful austerity
measures aimed at cutting its heavy debt load and improving its